Diane, let's start with the fluctuations that occurred even in the post- closing session for NetApp, which achieved strong results in revenue and profits, and raised its forecasts for the entire year.
We were initially on a high, and now of course we are down by about 9%. The question is: What went wrong ? If the earnings exceeded expectations, and if the guidance was slightly better than expected, then what happened here?
NetApp announced earnings of $2.58 per share , exceeding estimates of around $2.13. And if you look at some of NetApp's revenue figures, yes, $2.03 billion in revenue. That was a 30% year-on-year increase.
All Flash storage arrays generated $1.31 billion in revenue. That was a 47% year-over- year increase, making it the primary growth driver for NetApp. Hybrid cloud revenues reached 1.82 billion.
That was a 30% increase, and public cloud revenues rose by about 28% year-over-year.
news about NetApp. So, let's look at these numbers. First- quarter EPS came in at $2.58, much better than the market's expected $2.12. Consolidated gross margin for the quarter was 70.6 percent, one percentage point higher than market expectations.
And net income is $2.03 billion. The market was expecting $1.83 billion. So, there are clear gaps in important metrics here.
