NetApp Q1 FY27 net income rises 60.9% to $375 million; net revenues climb 29.9% to $2.03 billion - NTAP News | RalliesNetApp Q1 FY27 net income rises 60.9% to $375 million; net revenues climb 29.9% to $2.03 billion
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NTAP• NetApp reports higher profit, revenue and margins in Q1 FY27
- NetApp Q1 FY27 net income rose 60.9% to $375 million, lifting diluted EPS 63.5% to $1.88.
- Net revenues more than doubled to $2.03 billion, while operating margin widened 4.1 percentage points to 23.9%.
- Gross margin edged down 0.3 percentage points to 70.1%, even as gross profit climbed 29.2% to $1.42 billion.
- Hybrid Cloud segment net revenues increased 30.1% to $1.82 billion, driven by all-flash revenues rising 46.6% to $1.31 billion.
- Net cash from operations fell 25.3% to $503 million, pushing free cash flow down 35.3% to $401 million.
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