NetApp Q1 FY27 net income rises 60.9% to $375 million; net revenues climb 29.9% to $2.03 billion

• 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.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. NetApp Inc. published the original content used to generate this news brief on September 02, 2026, and is solely responsible for the information contained therein.