Revenue growth of 1.9% expected in fiscal 2018
In the previous article, we saw that analysts expect NetApp’s revenues to rise 2% YoY (year-over-year) in fiscal 1Q18 to $1.32 billion from $1.29 billion in fiscal 1Q17. Analysts also expect NetApp’s revenues to rise 2.4% YoY in fiscal 2Q18 to $1.37 billion from $1.34 billion in fiscal 2Q17.
In fiscal 2017, NetApp’s revenues fell 0.5% YoY to $5.52 billion from $5.54 billion in fiscal 2016. For fiscal 2018, analysts expect the firm’s revenues to rise 1.9% YoY to $5.63 billion from $5.52 billion in fiscal 2017.
Analysts also expect its EPS (earnings per share) to rise 19.6% YoY from $0.46 in fiscal 1Q17 to $0.55 in fiscal 1Q18. Analysts also expect NetApp’s EPS to rise 15% YoY from $0.60 in fiscal 2Q17 to $0.69 in fiscal 2Q18. For fiscal 2018, analysts expect the firm’s earnings to rise 11% YoY from $2.73 in fiscal 2017 to $3.03.
All-flash storage expected to drive growth
NetApp (NTAP) experienced revenue growth in the second half of fiscal 2Q17 and expects its all-flash storage portfolio to drive at least single-digit revenue growth over the next two fiscal years. NetApp has focused on acquisitions and product development to grow market share in the all-flash array and hyperconverged computing space.
During the company’s fiscal 4Q17 earnings call, NetApp’s CEO, George Kurian, stated, “We have regained momentum, returning the company to revenue growth and delivering against all of our fiscal year 2017 commitments.”