NetApp (NTAP) Revenue — Quarter Ended Jul 28, 2023
Revenue declined in the current quarter. The decrease was steeper than the prior quarter's drop and also larger than the decline seen in the same quarter a year earlier.
Key takeaway
Quarter ended Jul 28, 2023 · FY2024 Q1
Revenue declined in the current quarter. The decrease was steeper than the prior quarter's drop and also larger than the decline seen in the same quarter a year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$1.4B
Revenue reported for this quarter.
Quarter-over-quarter
-9.4%
Change from the immediately preceding quarter.
Year-over-year
-10.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$6.2B
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 |
|---|---|---|
| Oct 28, 2022 | $1.7B | +6.2% |
| Jan 27, 2023 | $1.5B | +91.7% |
| Apr 28, 2023 | $1.6B | -5.9% |
| Jul 28, 2023 | $1.4B | -10.1% |
Revenue performance
Reported revenue fell compared to both the immediately preceding quarter and the same quarter one year ago. The sequential decline was less severe than the year-over-year contraction.
Quarterly comparison
Revenue was lower than the prior quarter's level and also below the figure from the same quarter last year. The year-over-year decrease was larger than the sequential decrease.
What to watch
The trailing twelve-month revenue total was lower than the prior fiscal year's annual figure, indicating a sustained downward trend.