NetApp, Inc. (NTAP)

NetApp beat expectations on both the top and bottom line in the first fiscal quarter of 2027, reported September 2, 2026, as revenue rose 29.9% to about $2.0 billion and adjusted EPS of $2.58 topped the $2.12 estimate (+21.7%). Revenue also topped consensus, coming in at $2.025 billion versus a $1.837 billion estimate (+10.2%), up from about $1.6 billion a year ago, while net income climbed 60.9% to roughly $375 million from about $233 million. Profitability remained high, with gross margin at ~70% and operating margin near 24%, alongside gross profit of about $1.4 billion and operating income of roughly $484 million. NetApp generated about $503 million in operating cash flow during the quarter and returned cash through roughly $200 million of share repurchases and about $102 million in dividends. The business continues to span Hybrid Cloud and Public Cloud offerings across enterprise storage systems and data-management software, tying on-premises infrastructure with cloud services. For the next period, consensus calls for EPS of $2.27 on revenue of $1.891 billion.