NetApp Inc.
NetApp Announces First Quarter FY25 Results and CFO Retirement
Summary
NetApp, Inc. reported a strong first quarter for fiscal year 2025, with net revenues of $1.54 billion, marking an 8% year-over-year increase. The company delivered record GAAP and non-GAAP operating margins and EPS, driven by growth in its Hybrid Cloud and Public Cloud segments. Additionally, NetApp announced that Michael J. Berry, Executive Vice President and CFO, plans to retire by May 23, 2025, and will assist in the transition. The company provided financial guidance for the second quarter and the full fiscal year, with non-GAAP financial measures presented alongside GAAP results.
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About NetApp Inc.
NetApp Inc. is a leading provider of cloud data services and data management solutions worldwide. Specializing in data storage systems, the company helps organizations harness the full potential of their data in the cloud and in the data center environments. NetApp's portfolio includes cloud integration, data storage hardware, and software-defined storage services designed to simplify and optimize data management for businesses of all sizes. Serving industries such as technology, healthcare, financial services, and more, NetApp empowers its clients to store, manage, and analyze data efficiently, enhancing their competitive edge. The company's innovative solutions support both private and public cloud infrastructures, making it a significant player in the rapidly evolving cloud computing market. Founded in 1992 and headquartered in Sunnyvale, California, NetApp contributes substantially to the digital transformation journey of enterprises, highlighting its role in facilitating agile and secure data operations.
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