NetApp Reports Robust Growth in Q3 2024: Key Financial Metrics Revealed
Monday, 4 March 2024, 13:37
NetApp Q3 2024 Financial Performance Report
Cloud service provider NetApp, Inc. (NASDAQ: NTAP) has announced financial results for the third quarter of 2024, reporting an increase in revenues.
Highlights:
- Net revenues rose by 5% year-over-year to $1.61 billion.
- Billings increased by 7% to $1.69 billion in Q3.
- All-flash array revenue run rate surged by 21% to $3.4 billion.
- Consolidated gross margins reached a record high of 72%.
- Adjusted net income climbed to $313 million from $65 million in the same period last year.
- Earnings per share stood at $1.48 on a reported basis, showing significant growth from the prior year.
- Unadjusted net income per share rose to $1.94 in Q3 2024.
The post Earnings Summary: Highlights of NetApp’s Q3 2024 financial results first appeared on AlphaStreet.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.