Here's What Key Metrics Tell Us About NetApp (NTAP) Q2 Earnings

NetApp (NTAP) reported $1.66 billion in revenue for the quarter ended October 2024, representing a year-over-year increase of 6.2%. EPS of $1.87 for the same period compares to $1.58 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.65 billion, representing a surprise of +0.79%. The company delivered an EPS surprise of +4.47%, with the consensus EPS estimate being $1.79.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.Here is how NetApp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Gross margin - Product - Non-GAAP: 60.3% versus 59.8% estimated by seven analysts on average. Total Revenue - % Change: 6% versus 5.4% estimated by six analysts on average. Gross margin - Services - Non-GAAP: 82.1% compared to the 81.6% average estimate based on six analysts. Geographic Mix - EMEA: 33% versus 33.5% estimated by four analysts on average. Geographic Mix - Americas: 52% compared to the 50.1% average estimate based on four analysts. Geographic Mix - Asia Pacific: 15% compared to the 16.4% average estimate based on four analysts. Net revenues- Services: $890 million versus $883.74 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +4% change. Net revenues- Product: $768 million versus $759.15 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +8.8% change. Net revenues- Public Cloud: $168 million versus $162.38 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +9.1% change. Net revenues- Hybrid Cloud: $1.49 billion compared to the $1.48 billion average estimate based on five analysts. The reported number represents a change of +5.8% year over year. Net revenues- Support: $635 million versus $644.64 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +1.9% change. Net revenues- Professional and Other Services: $87 million versus $82.21 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +10.1% change. View all Key Company Metrics for NetApp here>>>Shares of NetApp have returned +3.7% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NetApp, Inc. (NTAP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks