NetApp Reports Q1 Earnings, Shares Fall Despite ‘Solid Start’ To Year – NetApp (NASDAQ:NTAP)

NetApp Inc NTAP reported financial results for the first quarter of fiscal 2026 on Wednesday after the bell. Here’s a look at the key metrics from the period.

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Q1 Highlights: NetApp reported first-quarter revenue of $1.56 billion, beating analyst estimates of $1.55 billion, according to Benzinga Pro. The data infrastructure company reported first-quarter adjusted earnings of $1.55 per share, beating estimates of $1.54 per share.

Total revenue was up 1% year-over-year. Billings grew 4% year-over-year to $1.51 billion. The company generated $673 million in cash from operations and $620 million of free cash flow during the quarter.

NetApp ended the period with $3.32 billion in total cash and cash equivalents.

“We delivered a solid start to fiscal year 2026 as organizations are increasingly choosing NetApp to build future-proof AI-ready data infrastructure. By helping customers modernize with cutting-edge and cyber-resilient storage solutions, we have taken the lead position in the all-flash market,” said George Kurian, CEO of NetApp.

What’s Next: NetApp said it will pay its next cash dividend of 52 cents per share on Oct. 22 to shareholders of record as of Oct. 3.

The company guided for second-quarter revenue of $1.62 billion to $1.77 billion. NetApp expects second-quarter earnings to be in the range of $1.84 to $1.94 per share.

The company also guided for full-year revenue of $6.63 billion to $6.88 billion and adjusted earnings of $7.60 to $7.90 per share.

NetApp executives will further discuss the quarter on an earnings call set for 5:30 p.m. ET.

NTAP Price Action: NetApp shares were down 5.79% in after-hours, trading at $105.30 at the time of publication on Wednesday, according to Benzinga Pro.

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