NetApp exceeds Q2 forecasts, raises 2025 outlook on strong cloud and AI demand, stock surges.

NetApp reported strong Q2 results, exceeding earnings and revenue forecasts. The company's Hybrid Cloud segment saw a significant year-over-year increase, contributing to a 9% rise in billings. NetApp raised its annual profit and revenue forecasts for fiscal 2025, attributing the boost to high demand for data storage services, particularly in cloud and AI. The stock surged by over 4% in after-hours trading, reflecting optimism about the company's future.

November 21, 2024
5 Articles