NetApp, Inc. (NTAP) Earnings Call Transcripts

NetApp, Inc.'s Latest Earnings Call - June 3, 2026

NetApp, Inc. reported an increase in revenue for Q4 of fiscal year 2026, with a notable 12% growth, and guided for 17% growth in Q1 of fiscal 2027. The company highlighted strong demand in enterprise IT and AI sectors, despite facing commodity price increases. NetApp's partnership with Google in the hybrid cloud segment was expanded, boosting product revenue and margins. The company provided guidance for fiscal 2027, projecting high single-digit revenue growth and EPS around $9, while managing operating margins through disciplined OpEx control.

Reported metrics

Guidance from management

NetApp guided for high single-digit revenue growth and EPS of approximately $9 for fiscal 2027. Gross margins are expected to decline by 220-230 basis points, but operating margins will only decline by 50 basis points due to OpEx controls.

What management said

Look, if the -- almost every -- I mean AI went from experimentation to almost becoming a top priority across the board. And so we view it as incremental opportunity for us. It will be a nice tailwind as more and more enterprises sort of implement AI. It's, I would say, a bit early to quantify but it does feel like there's a certain momentum that we're feeling in the business. Yes, it's -- the way we think of it is, i...

I mean the way to think of it, I would say probably over a 3-year period, the economics are more or less equivalent. Longer than that, probably Keystone has a nice advantage because obviously, you extend that sort of revenue stream. But the -- but for us, what matters really is what solutions are we solving for our customers and how we solve is the best way possible.

What analysts pressed on

Analysts expressed concerns about the sustainability of demand, particularly distinguishing between true end demand and pull-ins. There were also questions about the impact of commodity price increases on margins and the potential lag in storage demand following increased compute spend.

Main topics on the call

• Revenue Growth — NetApp reported a 12% revenue growth in Q4 and guided for 17% growth in Q1 of fiscal 2027, driven by strong enterprise IT and AI demand. Management noted, 'broad-based strength in demand' and improved enterprise IT spend...
• Google Partnership Expansion — The expansion of the Google Distributor Cloud agreement in the hybrid cloud segment is expected to provide TAM expansion and showcase NetApp's security capabilities. The agreement will last 4.5 years and includes hardwar...
• Commodity Price Impact — NetApp faced commodity price increases, impacting product gross margins. Management stated, 'Q1 could be the trough' with gradual improvements expected throughout fiscal 2027.
• AI Demand — AI-related deals increased significantly, with over 500 deals in Q4 compared to 300 in prior quarters. Management sees AI as a 'nice tailwind' but too early to quantify its full revenue potential.

Read the full NetApp, Inc. transcript (June 3, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 90 NetApp, Inc. earnings call transcripts on record, spanning February 12, 2020 to June 3, 2026. Based on this history, NetApp, Inc. reports quarterly. The most recent call on file is dated June 3, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NTAP

Exchange

NasdaqGS

Country

US

Sector

Information Technology

Industry

Technology Hardware, Storage and Peripherals

Calls on record

90

First call

February 12, 2020

Most recent

June 3, 2026

Reporting cadence

quarterly