With a $26.27 billion market cap, NetApp, Inc. (NTAP) is an intelligent data infrastructure company combining unified data storage, integrated data services, and CloudOps solutions, transforming a world of disruption into an opportunity for every customer. It reported solid fourth-quarter and full-year results amid surging demand for cloud-based data management solutions.
NTAP reported fourth-quarter revenue of $1.67 billion, surpassing analysts’ estimate of $1.65 billion. Its Hybrid Cloud segment revenue was $1.52 billion, up 6.3% year-over-year. NetApp Public Cloud annualized revenue run rate (ARR) came in at $630 million, compared to $620 million in the prior year’s quarter.
