NetApp's stock surged 8.16% in the after-hours session following the release of its fiscal fourth-quarter results, which significantly exceeded Wall Street expectations.
The data infrastructure company reported adjusted earnings per share of $2.43, beating the analyst consensus estimate of $2.27. Revenue for the quarter came in at $1.948 billion, surpassing the expected $1.872 billion. Both metrics represented substantial year-over-year growth, with earnings increasing 25.91% and revenue rising 12.47%.
The positive momentum was further fueled by NetApp's strong forward guidance. The company projected fiscal year 2027 revenue in the range of $7.325 billion to $7.575 billion, above the FactSet estimate of $7.198 billion. Adjusted EPS guidance of $8.70 to $9.00 also topped the consensus estimate of $8.55. Company executives cited record results driven by hybrid cloud demand, growth in all-flash array revenue, and customer adoption of AI solutions as key factors behind the performance.