NetApp, Inc. earnings overview

NTAP FY2026 Q4 · Calendar Q2 2026

NetApp, Inc.

NetApp delivered a strong fiscal 2026 finish, beating consensus on both EPS and revenue driven by AI-related demand, all-flash strength, and Keystone consumption-based growth. The 22.4% post-earnings surge reflected surprise at the breadth of AI wins and forward FY2027 guidance, though the stock has since given back roughly 11% of that initial move. The core question for investors is whether AI-driven storage demand is durable or reflects pull-forward, and whether margin expansion can persist against component cost inflation.