NetApp (NTAP) Revenue — Quarter Ended Jan 27, 2023
Revenue declined from the prior quarter but rose sharply compared with the same quarter a year earlier. The sequential decrease reflects a moderation from the elevated level seen in the preceding period.
Key takeaway
Quarter ended Jan 27, 2023 · FY2023 Q3
Revenue declined from the prior quarter but rose sharply compared with the same quarter a year earlier. The sequential decrease reflects a moderation from the elevated level seen in the preceding period.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.5B
Revenue reported for this quarter.
Quarter-over-quarter
-8.2%
Change from the immediately preceding quarter.
Year-over-year
+91.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$6.5B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Apr 29, 2022 | $1.7B | +8.0% |
| Jul 29, 2022 | $1.6B | +9.2% |
| Oct 28, 2022 | $1.7B | +6.2% |
| Jan 27, 2023 | $1.5B | +91.7% |
Revenue performance
Reported revenue moved lower relative to the immediately preceding quarter, marking a reversal from the prior period's growth. The year-over-year comparison, however, shows a substantial increase.
Quarterly comparison
Compared with the prior quarter, revenue contracted, while versus the same quarter one year earlier it expanded notably. The trailing twelve-month revenue figure provides a broader context for the current level.
What to watch
Monitor whether the sequential decline continues or stabilizes in the coming quarters.