NetApp Q4 2020 Earnings: Key Insights and Financial Highlights

Key Insights and Financial Highlights

NetApp, a leading provider of cloud-connected storage systems and data management solutions, recently reported its financial results for the fourth quarter of fiscal year 2020. In this article, we will provide a detailed analysis of NetApp’s Q4 2020 earnings, focusing on the key insights and financial highlights.

Revenue and Net Income

NetApp reported total revenue of $1.4 billion for Q4 2020, representing a 5% year-over-year (YoY) increase. The company’s GAAP net income came in at $187 million, compared to a net loss of $11 million in the same quarter last year. The non-GAAP net income was $222 million, up from $165 million in Q4 2019.

Segment Performance

NetApp’s product revenue increased by 6% YoY to $1.1 billion, driven by strong demand for its FAS and E-Series systems. The company’s services revenue grew by 3% YoY to $307 million, with professional services revenue up 11% YoY and support services revenue up 2% YoY.

Geographic Performance

NetApp’s revenue in the Americas region grew by 6% YoY to $844 million, while revenue in the Europe, Middle East, and Africa (EMEA) region increased by 4% YoY to $391 million. The company’s revenue in the Asia Pacific and Japan (APJ) region declined by 1% YoY to $165 million.

Cash Flow and Balance Sheet

NetApp generated $315 million in cash from operations during Q4 2020, compared to $288 million in the same quarter last year. The company’s cash and cash equivalents balance stood at $1.8 billion as of October 31, 2020.


For the first quarter of fiscal year 2021, NetApp expects total revenue in the range of $1.25 billion to $1.35 billion, representing a 3% to 7% YoY increase. The company anticipates GAAP and non-GAAP earnings per share (EPS) in the range of $0.58 to $0.68.


NetApp’s Q4 2020 earnings report demonstrated strong revenue growth and improved profitability, driven by solid demand for its storage systems and data management solutions. The company’s focus on innovation and its ability to adapt to the evolving IT landscape continue to position it well for future growth. With a solid financial position and a positive outlook for the upcoming quarter, NetApp is well-positioned to capitalize on the opportunities in the cloud-connected storage market.