All articles tagged with #netapp
Pure Storage's stock surged to record highs after beating earnings and revenue expectations in Q2, while NetApp's stock wavered despite solid results, reflecting investor confidence in Pure Storage's growth prospects and strategic partnerships, especially with hyperscalers like Meta.
NetApp's Q3 FY24 revenue surged 5% to $1.6 billion, driven by record all-flash array sales and profits of $313 million. CEO George Kurian attributes the success to the momentum of their expanded all-flash product portfolio and operational discipline. The company's lower cost all-flash arrays outperformed competitors, leading to a sustainable step-up in product gross margin. Despite a minor revenue lift in the public cloud business, NetApp is focusing on first-party and hyperscaler marketplace storage services for growth. The company raised its full-year revenue outlook and is confident in its ability to capitalize on market opportunities.
NetApp's stock has surged to its highest level since 2023 following the release of its earnings report.
Workday's stock rose over 6% after beating Q3 estimates, while NetApp climbed nearly 10% on a beat in Q2 earnings and higher-than-expected guidance for Q3. Leslie's stock plummeted over 16% as the swimming supplies company forecasted a wider-than-expected loss for Q1. Jabil shares fell over 8% after issuing a lower revenue forecast for Q1 2024. Las Vegas Sands slipped 3.5% as its largest shareholder, Miriam Adelson, announced plans to sell $2 billion in shares to purchase a professional sports team. The Daily Journal's shares are expected to be active following the death of Charlie Munger, chair and publisher of the newspaper.