“[Businesses] are now looking to accelerate digital transformation to drive competitive advantage by delivering services and products remotely, reaching customers through digital means, and optimizing remote operations and collaboration,” says NetApp CEO George Kurian.By Joseph F. Kovar August 31, 2020, 10:47 AM EDTLinkedInFacebookTwitterEmailMore1 23… 11Next
NetApp Building Its Cloud Business, Thriving Despite COVID-19
NetApp on Wednesday reported a very surprisingly successful first fiscal quarter 2021. And it was a surprise, both because NetApp‘s last few fiscal quarters have suffered from falling sales and because the IT industry along with the rest of the economy has taken a big hit from the COVID-19 coronavirus pandemic.
However, NetApp saw total revenue for its first fiscal 2021 quarter rise 5 percent to $1.3 billion, revenue for its all-flash array business increase 34 percent on an annual net revenue basis, and annual recurring revenue grow 192 percent.
NetApp CEO George Kurian used his prepared remarks and analyst questions during the company‘s quarterly financial conference call to talk about the growth of its cloud and all-flash storage business, its competitive environment including a look at Dell’s new PowerStore, the impact of the pandemic, and more as a way to provide insight into both what happened during the quarter and what to expect going forward.
“With the ongoing pandemic, the near future remains uncertain for many companies, and no one knows when we will return to a more normal and predictable environment,” he said. ”Despite the uncertainties, one thing is clear: Data is growing in scale and importance. We help the world‘s leading organizations solve the challenge of managing their most critical data.”
For a look at what is impacting NetApp and the IT industry, turn the page.
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