NetApp Reports Second Quarter of Fiscal Year 2021 Results

NetApp Reports Second Quarter of Fiscal Year 2021 Results
George Kurian, Chief Executive Officer NetApp. (Bild: NetApp)

Sunnyvale – NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2021, which ended on October 30, 2020.

“In the second quarter, NetApp again delivered strong results, successfully executing against our plan to scale our cloud business while growing in the storage market. We also introduced significant new products and services which further advance our Data Fabric strategy,” said George Kurian, chief executive officer. “We are a primary beneficiary of the increasing importance of data and are uniquely positioned to help customers with their digital transformations. I am confident in our ability to drive long-term growth, extend our hybrid cloud leadership, and deliver value for customers, partners, and shareholders.”

Second Quarter of Fiscal Year 2021 Financial Results

  • Net Revenues: $1.42 billion, compared to $1.37 billion in the second quarter of fiscal year 2020
  • Net Income: GAAP net income of $137 million, compared to GAAP net income of $243 million in the second quarter of fiscal year 2020; non-GAAP net income2 of $236 million, compared to non-GAAP net income of $257 million in the second quarter of fiscal year 2020
  • Earnings per Share: GAAP net income per share3 of $0.61 compared to GAAP net income per share of $1.03 in the second quarter of fiscal year 2020; non-GAAP net income per share of $1.05, compared to non-GAAP net income per share of $1.09 in the second quarter of fiscal year 2020
  • Cash, Cash Equivalents and Investments: $3.65 billion at the end of the second quarter of fiscal year 2021
  • Cash Provided By (Used In) Operations: $161 million, compared to $(53) million in the second quarter of fiscal year 2020
  • Dividend: Returned $107 million to shareholders through cash dividend

Third Quarter of Fiscal Year 2021 Financial Outlook

The company provided the following financial guidance for the third quarter of fiscal year 2021:

Net revenues are expected to be in the range of:
$1.34 billion to $1.49 billion

Earnings per share is expected to be in the range of:
GAAP $0.67 – $0.75 – Non-GAAP$0.94 – $1.02

Dividend
The next cash dividend of $0.48 per share is to be paid on January 27, 2021, to shareholders of record as of the close of business on January 8, 2021. (NetApp/mc/ps)

More results:
https://investors.netapp.com/events/event-details/netapp-second-quarter-fiscal-year-2021-results

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