Welcome to our dedicated page for Netapp news (Ticker: NTAP), a resource for investors and traders seeking the latest updates and insights on Netapp stock.
NetApp, Inc. reports news about enterprise data storage, hybrid cloud infrastructure, and its Intelligent Data Infrastructure strategy. Company updates commonly cover the NetApp data platform, ONTAP data management software, all-flash storage, public-cloud storage services, and technologies that connect, protect, and activate data across clouds, workloads, and enterprise environments.
Recurring announcements include financial results webcasts, Google Cloud collaborations, Google Cloud NetApp Volumes enhancements, NetApp Data Migrator, AI-driven operations, sovereign and air-gapped cloud deployments using AFF, StorageGRID, and Trident, and ransomware resilience services for ONTAP environments.
NetApp (NASDAQ: NTAP) has announced that its ONTAP platform is the first enterprise storage system to achieve Commercial Solutions for Classified (CSfC) validation for data-at-rest security. This recognition by the U.S. National Security Agency emphasizes ONTAP's robust capabilities in protecting sensitive data against threats like ransomware. As cyber attacks increase, organizations can now store top-secret data confidently, benefiting from easier procurement processes and cost savings. NetApp aims to bolster cybersecurity across industries relying on secure data management.
Level Equity Management announced the final closings of Level Equity Growth Partners V and Level Equity Opportunities Fund 2021, raising $775 million and $350 million respectively, totaling $1.125 billion in commitments. Since 2011, Level has raised $3.0 billion across 10 funds. Key promotions include Gautam Gupta to Partner and Chris Isaac to Principal. In 2021, Level made investments in various tech companies and sold CloudCheckr to NetApp (NASDAQ: NTAP) and PassFort to Moody's (NYSE: MCO). The firm continues to focus on growth investments.
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NetApp (NASDAQ: NTAP) appointed Harvinder Bhela as the new Chief Product Officer to boost its transformation into a multi-cloud leader, effective January 2022. This follows the retirement of Brad Andersen in June 2021. Bhela comes from Microsoft, where he generated over $10 billion in annual revenue in his last role. His leadership aims to enhance NetApp's cloud storage and data services, particularly as the company targets $1 billion in Cloud ARR. CEO George Kurian emphasizes the significance of this appointment for accelerating innovation and growth.
NetApp (NASDAQ: NTAP) was honored as the 2021 AWS ISV Design Partner of the Year during AWS re:Invent for its joint innovations with AWS, including the Amazon FSx for NetApp ONTAP service. This recognition underscores NetApp’s role in enhancing CloudOps for organizations utilizing AWS. The company also introduced updates to its Spot by NetApp product portfolio, enhancing capabilities in cloud-native operations. New offerings include Spot Ocean for Apache Spark, Spot Ocean Continuous Delivery, and CloudCheckr Well-Architected Readiness Advisor.
NetApp reported a strong second quarter with net revenues of $1.57 billion, up 11% year-over-year. The company achieved significant growth in public cloud ARR, increasing 80% to $388 million, and all-flash array revenue rose 22% to $3.1 billion. GAAP net income reached $224 million, up from $137 million a year prior, with EPS at $0.98. The company raised its full-year guidance for revenue and EPS, reflecting a robust demand and execution. Cash flow from operations totaled $298 million, and shareholder returns were $237 million through buybacks and dividends.
NetApp (NASDAQ: NTAP), a cloud-led data-centric software company, will participate virtually in several upcoming conferences. Key presentations include Wells Fargo TMT Summit on December 1, 2021, at 2:00 PM PT with Kris Newton, and NASDAQ Investor Conference on December 2, 2021, at 7:30 AM PT with Mike Berry. Additional events include the Raymond James Technology Conference on December 6 and the Barclays TMT Conference on December 7. Live audio webcasts will be available on investors.netapp.com.
NetApp (NASDAQ: NTAP) has extended its partnership with Ducati Corse, focusing on accelerating digital transformation in motorcycle racing. This collaboration, ongoing since 2018, aims to enhance performance through data utilization. The two-year extension includes optimizing 3D product design and automating data workflows. Ducati's General Manager expressed excitement about the partnership's success, as the team secured three top placements in the 2021 MotoGP standings. This initiative highlights NetApp's commitment to data-driven strategies in competitive environments.
NetApp (NASDAQ: NTAP) has successfully completed the acquisition of CloudCheckr, enhancing its Spot by NetApp offerings with improved cloud optimization capabilities. CloudCheckr's platform integrates cost visibility, analytics, and continuous optimization services, allowing organizations to better manage cloud resources while ensuring security and compliance. This acquisition is expected to drive innovation and growth within the Spot by NetApp portfolio, enabling customers to leverage cloud benefits more efficiently and effectively.
NetApp (NASDAQ: NTAP) will announce its financial results for Q2 FY 2022 after market close on November 30, 2021. The results cover the quarter ending October 29, 2021. A conference call will be held at 2:30 p.m. Pacific Time to discuss the results and market dynamics. Interested parties can access the live Webcast at investors.netapp.com. Future earnings report dates include Q3 FY 2022 on February 23, 2022, Q4 FY 2022 on June 1, 2022, Q1 FY 2023 on August 24, 2022, and Q2 FY 2023 on November 29, 2022.