View Financial Tables (PDF)
Net Revenues of $1.42 Billion Grew 6% Year-over-Year
Second Quarter Fiscal 2018 Highlights
Product revenue increased 14% year-over-year
All-flash array annualized net revenue run rate of $1.7 billion increased 58% year-over-year
GAAP EPS of $0.64 and non-GAAP EPS of $0.81 increased 68% and 35% year-over-year, respectively
Sunnyvale, Calif.- November 15, 2017-NetApp (NASDAQ: NTAP) today reported financial results for the second quarter fiscal year 2018, ended October 27, 2017.
In the second quarter, NetApp again delivered strong operating results on the top and bottom lines. We also introduced a number of industry-leading innovations that position us for continued growth and expand our leadership position in the growth segments of the market, said George Kurian, chief executive officer. Our strong performance was driven by excellent execution and reflects our customers' clear and growing preference for the value of our Data Fabric strategy. We are winning because we enable our customers' success through data.
Second Quarter Fiscal 2018 Financial Results
Net Revenues: $1.42 billion, increased 6% year-over-year from $1.34 billion in the second quarter of fiscal 2017
Net Income: GAAP net income of $175 million, compared to GAAP net income of $109 million in the second quarter of fiscal 2017; non-GAAP net income1 of $223 million, compared to non-GAAP net income of $169 million in the second quarter of fiscal 2017
Earnings per Share: GAAP earnings per share2 of $0.64, compared to GAAP earnings per share of $0.38 in the second quarter of fiscal 2017; non-GAAP earnings per share of $0.81, compared to non-GAAP earnings per share of $0.60 in the second quarter of fiscal 2017
Cash, Cash Equivalents and Investments: $6.0 billion at the end of the second quarter fiscal year 2018
Cash from Operations: $314 million, compared to $158 million in the second quarter of fiscal 2017
Share Repurchase and Dividend: Returned $204 million to shareholders through share repurchases and a cash dividend
Third Quarter Fiscal 2018 Financial Outlook
The Company provided the following financial guidance for the third quarter of fiscal year 2018:
Net revenues are expected to be in the range of $1.425 billion to $1.575 billion
Earnings per share is expected to be in the range of:
GAAPNon-GAAP
$1.18-$1.26* $0.86-$0.94
*GAAP earnings per share includes an expected $0.50 per share benefit, after tax, from gains on the sale of certain properties.
Dividend
Next cash dividend of $0.20 per share to be paid on January 24, 2018, to shareholders of record as of the close of business on January 5, 2018
Second Quarter Fiscal 2018 Business Highlights
New Solutions Expand NetApp Impact in Flash, Next-Generation Data Center, and Cloud
NetApp EF570 all-flash system is the storage industry's price/performance leader as demonstrated by SPC-1 and SPC-2 benchmark tests. 3
NetApp E5700 Series hybrid flash system accelerates performance and increases density with a hybrid flash system optimal for modern enterprise applications.
NetApp SANtricity Cloud Connector enables Data Fabric capabilities by providing cost-effective backup and recovery to the cloud from NetApp E-Series and EF-Series systems.
NetApp SANtricity 11.4 software now comes with security enhancements such as role-based access control and audit log, Active Directory support, and an external key manager.
NetApp Converged Infrastructure Solution for Data Analytics brings together the latest storage, networking, and server technologies to help simplify deployment of data analytics environments.
NetApp introduces new AI-enabled virtual support assistant, Elio, and Active IQ cloud-based analytics to help companies gain intelligent insights
NetApp expands collaboration with Microsoft Azure to deliver the industrys first Azure enterprise NFS service.
NetApp SolidFire Element OS 10 supports data movement from Element OS systems to ONTAP systems across the Data Fabric and helps customers align IT service levels to business goals.
NetApp HCI, built on SolidFire Element OS, the world's first enterprise-scale hyper converged solution, became generally available in October 2017.
StorageGRID Webscale 11 simplifies the creation of next-generation data center cloud architecture by enabling easy implementation of hybrid cloud data pipelines with AWS.
NetApp ONTAP 9.3 software offers 40% increased performance over earlier versions, further optimizes deduplication, and enhances security and compliance.
OnCommand Insight updated with new cloud cost monitoring provides a complete picture of IT infrastructure.
NetApp Enables Customers to Improve Their Performance Through Cloud and Flash Services
NetApp SolidFire enables Ensono to deliver more value with fewer resources allowing their clients to focus on accelerating their businesses and leave the burden of managing IT to Ensono.
NetApp Data Fabric solutions allow Renown Health to reduce downtime and performance concerns, while enabling the integrated healthcare network to deliver leading-edge services and care to more patients.
CloudOps leverages NetApp SolidFire as the storage foundation for CloudMC, the IaaS platform that enables users such as cloud.ca to rapidly grow secure, successful cloud-based businesses.
Healthix enlists NetApp as a strategic partner to build a nondisruptive solution for sharing patient data among unrelated healthcare organizations, while remaining compliant with patient privacy laws and regulations.
Webcast and Conference Call Information
NetApp will host a conference call to discuss these results today at 2:30 p.m. Pacific Time. To access the live webcast of this event, visit the NetApp Investor Relations website at investors.netapp.com. In addition, this press release, historical supplemental data tables, and other information
Most recent headlines
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
15/10/2025
Across the world, early-career reporters are interrogating systems that shape daily life, from mortuaries and classrooms to the corridors of legal education and...
15/10/2025
St. Louis Blues Pay Tribute to Ozzy Osbourne in New Pregame Open VideoThe NHL franchise worked with production firms 2WEI and 4th Floor CreativeBy Mark J Burns,...
15/10/2025
Cobalt Digital, G3DVu, Proxima Vision, and Telos Alliance Renew Premier Sponsors...
15/10/2025
By Paige Bethmann
Before my grandmother passed away in 2019, I went to visit her in the hospital where she'd been for a few weeks. When I arrived, the nurs...
15/10/2025
Two years ago, Spotify set out to grow the entire publishing industry by making ...
15/10/2025
People turn to DJ for a listening experience that feels personal, dynamic, and j...
15/10/2025
Las personas recurren a DJ para vivir una experiencia de escucha personal, din m...
15/10/2025
Rock legend Bruce Springsteen and luminary actor Jeremy Allen White came togethe...
15/10/2025
At Spotify, we're all about supporting rising talent and helping them connec...
15/10/2025
New SBS Documentary Series THE CANCER KILLERS Premieres 4 November on SBS & SBS ...
15/10/2025
SBS celebrates the Festivals of Lights with bold, illuminating stories across th...
15/10/2025
One of humanity's most profound questions continues: Is there any place in our galaxy suitable for life beyond Earth? NASA intends to find out, with the hel...
15/10/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
15/10/2025
Scality, a global leader in cyber-resilient storage software for the AI era, today announced the advancement of its comprehensive AI ecosystem certification pro...
15/10/2025
The Hollywood Professional Association (HPA) today unveiled key highlights of the 2026 HPA Tech Retreat, scheduled for Feb. 15 19 at the Westin Rancho Mirage Go...
15/10/2025
At NAB Show New York 2025 (Stand 244), Interra Systems will showcase the future of media QC, monitoring, and captioning, highlighting its award-winning, AI- and...
15/10/2025
Grass Valley today announced that RMC BFM, part of the CMA-CGM Group and France's third-largest private media group, has chosen Grass Valley's productio...
15/10/2025
Appear, the global leader in live production technology, will demonstrate how its powerful hardware and software innovations are shaping the future of hybrid, s...
15/10/2025
Rakim to Join Berklee's Hip-Hop Hall of Fame at Signature Series Concert The rap icon becomes the latest inductee, following luminaries such as Roxanne Sh...
15/10/2025
Berklee Brings Live Music to the Head of the Charles Student artists will perform on multiple riverfront stages during the 60th anniversary of the world's...
15/10/2025
CobbTV, the government access television channel for Cobb County, Ga. recently acquired an automated playout system from Pebble, a global provider of automation...
15/10/2025
OSLO, Norway Appear, the global leader in live production technology, will demonstrate how its powerful hardware and software innovations are shaping the future...
15/10/2025
NEW YORK The NBA is making major changes to the NBA App and NBA TV as it takes control of them from TNT Sports, which has long managed the league's digital ...
15/10/2025
SAN MATEO, Calif. In what promises to be a major expansion of interactive features and personalized content on the DirecTV platform, the operator and Glance hav...
15/10/2025
SAN JOSE, Calif. Roku has launched changes to its user interface (UI) that the streaming platform says will better showcase original programming on the platform...
15/10/2025
LOS ANGELES Software-defined data storage and data services provider OpenDrives has elevated Alex Dunfey to chief technology officer, responsible for driving th...
15/10/2025
Abu Dhabi, UAE October 15, 2025: Space42 (ADX: SPACE42), the UAE-based AI-powe...
15/10/2025
Sheldon Nichols and Will Trickett to find and prepare more classic cars for budget conscious would-be owners from Wiser Films
UKTV have recommissioned the clas...
15/10/2025
Wednesday 15 October 2025
Nick Cave
JPEG (275 KB)
Explore the creative univer...
15/10/2025
Wednesday 15 October 2025
From breaking up with your partner to quitting your job - new polling shows some messages are just too scary to send
Over a fifth (...
15/10/2025
Rohde & Schwarz unveils compact MXO 3 oscilloscopes with 4 and 8 channels: Advan...
15/10/2025
Back to All News
Revenge Series The Resurrected' Captivates Audiences Across Asia
Entertainment
15 October 2025
GlobalTaiwan
Link copied to clipboard
...
15/10/2025
Back to All News
Bringing the Best in VFX and Virtual Production Together as Eyeline
Jeffrey Shapiro
CEO, Eyeline
Business
15 October 2025
GlobalCanadaInd...
15/10/2025
Deployed by Astound Business Solutions, Harmonic's Primary Distribution Solution Ensures Outstanding Video Quality and Seamless Ad Insertion at the Edge
SA...
15/10/2025
Collaboration extends a trusted relationship as RMC BFM invests in scalable, fut...
15/10/2025
Series coming in 2026 stars Tom Vaughan-Lawlor, Justine Mitchell and Jason O'Mara released today
RT today released first look images of new comedy-drama ...
14/10/2025
SVG Europe Summit 2025: All Sessions Now Available to Watch on SVG PLAYNetworking event that preceded IBC2025 shone a light on elite live sports innovation acro...
14/10/2025
SVG Sit-Down: Author Rich Podolsky on Writing Madden & Summerall: How They Revo...
14/10/2025
SVG All-Stars: Michael Reiners, Coordinating Producer, FloRacingThe Illinois State grad steers a vast schedule of motorsports events at tracks across the countr...
14/10/2025
Content protection: Getting the right management for your DRM By Neal Romanek
Friday, October 10, 2025 - 10:11
Print This Story
Eluvio power the EPCR'...
14/10/2025
As League Takes Over Ops, NBA TV and NBA App Add 60 Games, Weekday Studio Show, ...
14/10/2025
Time and effort: World's largest student-led broadcast prepares to go On Air...
14/10/2025
(L-R) Guest, Kimberly Robinson Jones, Geeta Gandbhir, Pamela Dias, and Takema Ro...
14/10/2025
Lossless ist jetzt mit Spotify Premium verf gbar.
Verlustfreies Audio war eine...
14/10/2025
La qualit Lossless est disponible sur Spotify Premium.
Le format sans perte de...
14/10/2025
For the seventh edition of Spotify and FC Barcelona's artist jersey series, ...
14/10/2025
Spotify is committed to bringing the best listening experience to all our users, and that includes parents and families. That's why we're expanding mana...
14/10/2025
Since its debut, the Spotify Original podcast Caso 63 has been more than just a story; it's been a cultural sensation. The science fiction thriller captivat...
View Financial Tables (PDF)
