NetApp, Inc. · NTAP · Next earnings

NetApp, Inc. reports Tuesday, Dec 1, 2026

NTAP reports after market close with consensus EPS at $2.60 and revenue at $2.10B. Last quarter: NetApp raises FY2027 outlook as AI and cloud demand accelerate

Reports After market close26 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $2.60 Calendar consensus
Consensus revenue $2.10B Calendar consensus
Report date Dec 1, 2026 Tuesday, date estimated
Session After market close 26 days away

Where NTAP left off: FY2027 Q1

Full report

NetApp raises FY2027 outlook as AI and cloud demand accelerate

EPS surprise +21.7% Reported $2.58 vs $2.12
Revenue surprise +10.2% Reported $2.02B vs $1.84B
Stock move +2.6% Event window
Subsequent drift +6.7% Up to 20 sessions

Management raised full-year FY2027 revenue guidance to $7.98–$8.23 billion and EPS guidance to $9.73–$10.03, according to the supplied transcript analysis.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Higher component and NAND costs could pressure product gross margins.
  • Inventory buildup to mitigate supply constraints may tie up capital.
  • A slowdown in AI spending or weaker pricing elasticity could challenge growth.
  • Legacy storage vendors and hyperscalers remain competitive pressures.

Questions analysts left open

  • Whether Q1 product gross-margin outperformance is sustainable as component and NAND costs rise.
  • Whether accelerated purchases pull demand forward and contribute to second-half seasonality or deceleration.
  • Whether higher operating expenses in the second half weigh on earnings leverage.

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Recent NTAP quarters

All NTAP earnings
+2.6%FY2027 Q1+22.4%FY2026 Q4-0.1%FY2026 Q3-2.0%FY2026 Q2

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2027 Q1

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.