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Will NetApp Beat Analyst Estimates in Fiscal 2Q18?

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Part 4
Will NetApp Beat Analyst Estimates in Fiscal 2Q18? PART 4 OF 6

What Affected NetApp’s Enterprise Storage Market Share in 2Q17?

Worldwide Enterprise Storage Systems market rose 3% YoY in 2Q17

As seen in the below table, the worldwide enterprise storage systems market rose 2.9% YoY (year-over-year) in 2Q17 to $10.8 billion, up from $10.5 billion in 2Q16. Hewlett Packard Enterprise (HPE), in a joint venture with H3C Group, is the market leader in this space with a share of 20.1% in 2Q17 compared to 23.8% in 2Q16. Market research firm IDC has estimated that HPE’s revenue will fall at 13.2% YoY in 2Q17.

Dell-EMC lost its first position to HPE due to a significant fall of 26.7% in revenue to $2 billion in 2Q17. NetApp regained its third position and experienced a rise in revenue and market share during 2Q17. NetApp’s (NTAP) revenue rose almost 17% YoY in 2Q17 to $695 million, and its share rose from 5.7% in 2Q16 to 6.4% in 2Q17.

What Affected NetApp’s Enterprise Storage Market Share in 2Q17?

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IBM (IBM) and Hitachi were the other top players in this segment with market shares of 5.3% and 3.8%, respectively. Revenue from ODMs (original design manufacturers) rose 73% YoY to $2.5 billion from $1.5 billion in the same period, and this group accounted for 23% of total revenue at the end of 2Q17. ODMs sell directly to hyperscale data centers.

External enterprise storage and all-flash array

The external enterprise storage market fell 5.4% YoY to $5.3 billion in 2Q17 from $5.6 billion in 2Q16. Dell-EMC’s revenue fell 22.3% to $1.5 billion and its market share fell to 28.4% from 34.6%. NetApp’s revenue rose 16.7% to $694.6 million, and it is now the second largest player in this vertical with a share of 13% at the end of 2Q17, up from 10.6% in 2Q16.

The total all-flash array revenue rose 37.6% YoY to $1.4 billion in 2Q17.

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