Netapp Inc - NTAP STOCK NEWS

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.

NetApp (NASDAQ: NTAP) has launched Spot Security, a new solution aimed at enhancing cloud security for organizations. This agentless technology facilitates continuous assessment of cloud resources, enabling DevOps and SecOps teams to identify vulnerabilities, misconfigurations, and compliance issues efficiently. Spot Security features include 360° visibility, prioritized analytics, and automated remediation, allowing teams to mitigate risks effectively. This innovation further strengthens NetApp's offerings within its CloudOps suite.

NetApp (NASDAQ: NTAP) announces a multi-year partnership with the TAG Heuer Porsche Formula E Team, aimed at enhancing race performance through innovative hybrid cloud solutions. This collaboration integrates real-time data services to support on-track decision-making and optimize race strategies. Porsche targets 80% electric vehicle sales by 2030, leveraging NetApp's technology to advance their electric vehicle development. Key cloud solutions include Cloud Volumes ONTAP and Global File Cache, ensuring data availability and processing across racing locations.

NetApp (NASDAQ: NTAP) has announced new enhancements to its hybrid multicloud offerings, emphasizing simplicity, security, and flexibility. Key innovations include a unified management system and improved ransomware protection. NetApp's new Storage-as-a-Service model through Keystone allows organizations to manage workloads seamlessly across clouds. The firm also aims to enhance cyber resilience, with features to protect against unauthorized access. Collaboration with VMware aims to facilitate cloud transition for enterprises, enhancing operational responsiveness and data security.