NetApp, Inc - NTAP STOCK NEWS

NetApp (NASDAQ: NTAP) has announced the launch of NetApp BlueXP, a unified control plane designed to simplify hybrid multicloud data management. This platform enhances storage and data services across on-premises and cloud environments, focusing on cost optimization, security, and performance. Key features include AI-driven management, cyber resilience, and flexible consumption options. The introduction of BlueXP positions NetApp to better support organizations navigating complex cloud environments, paving the way for digital transformation.

NetApp (NASDAQ: NTAP) announces the launch of its new partner program, NetApp Partner Sphere, scheduled for fiscal year 2024. This program consolidates existing initiatives, bringing a cloud-focused and services-led approach to partner engagement. It features streamlined tiers and enhanced support aimed at facilitating cloud transformation for partners. The program emphasizes training, tools, and support to maximize partners' market potential while aligning with NetApp’s focus areas including Cloud Solutions and AI & Analytics.

NetApp (NASDAQ: NTAP) announced its participation in upcoming fireside chats at key conferences. CEO George Kurian will present at the Citi 2022 Global Technology Conference on September 7, 2022, from 9:00 to 9:40 a.m. Eastern Time. Additionally, EVP and CFO Mike Berry will speak at the Goldman Sachs Communacopia & Technology Conference on September 14, 2022, from 7:30 to 8:10 a.m. Pacific Time. Live audio webcasts will be available on NetApp's investor site after the events.

NetApp focuses on enabling organizations to optimize their data management and cloud operations.

NetApp has announced the general availability of Amazon FSx for NetApp ONTAP, the only certified and supported supplemental datastore for VMware Cloud on AWS. This solution allows enterprises to migrate data-demanding workloads efficiently, optimizing costs by scaling cloud storage independently from cloud compute. Key advantages include improved migration speed, cost control through ONTAP’s data efficiency features, and operational consistency for VMware users. This collaboration provides a pathway for VMware customers to utilize enterprise-grade public cloud services seamlessly.

NetApp and VMware are expanding their alliance to enhance seamless migration and modernization of enterprise workloads in multi-cloud environments. This collaboration aims to reduce costs and complexity while improving performance for traditional and modern applications. It builds on two decades of shared experience supporting 20,000 mutual customers. The partnership focuses on three initiatives: cost-effective multi-cloud migration, modern application acceleration using Kubernetes, and optimizing data center infrastructure. These efforts will strengthen customer capabilities in managing hybrid cloud environments.

NetApp reported a strong performance in Q1 of fiscal year 2023, achieving record billings, revenue, and earnings. Net revenues rose 9% year-over-year to $1.59 billion, with product revenue growing 8% to $786 million. Billings increased 13% to $1.56 billion. The Public Cloud annualized revenue run rate surged 73% to $584 million. Net income reached $214 million, up from $202 million, with GAAP EPS at $0.96 vs $0.88 in Q1 FY 2022. The company returned $460 million to shareholders. Guidance for Q2 indicates net revenues between $1.595 billion and $1.745 billion.

NetApp (NASDAQ: NTAP) will announce its Q1 FY 2023 financial results on August 24, 2022, after market close. The results will cover the quarter ending July 29, 2022. NetApp's executive team will discuss the findings during a conference call at 2:00 PM PT, offering insights into current market dynamics. Investors can access the live Webcast on their investor relations site, with a replay available post-call. Future financial results are scheduled for November 29, 2022, February 22, 2023, and May 31, 2023.