Filing Flows › NetApp (NTAP) › Guidance history
NetApp (NTAP) guidance history: what it guided and what it reported
NetApp gave guidance in 12 earnings releases on file since Nov 28, 2023. Of 15 guided periods since reported, it met or beat its own guidance 11 times (73%). Revenue: 8 of 9, on average -1.6% against the guided midpoint. Its releases raised guidance once and lowered it 0 times.
Revenue
Met or beat 8 of 9 periods (1 above, 7 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q2 FY27 | $2.0B–$2.2B (Sep 2, 2026) | — | to be reported | — |
| Q1 FY27 | $1.8B–$1.9B (May 28, 2026) | $1.8B | within the range | -0.3% |
| FY27 | $7.3B–$7.6B (May 28, 2026) → raised $8.0B–$8.2B (Sep 2, 2026) | — | to be reported | — |
| Q4 FY26 | $1.8B–$1.9B (Feb 26, 2026) | $1.9B | above the range | +4.2% |
| FY26 | $6.6B–$6.9B (May 29, 2025) → reaffirmed $6.6B–$6.9B (Aug 27, 2025) → reaffirmed $6.6B–$6.9B (Nov 25, 2025) → raised $6.8B–$6.9B (Feb 26, 2026) | $6.9B | within the range | +1.1% |
| Q3 FY26 | $1.6B–$1.8B (Nov 25, 2025) | $1.7B | within the range | +1.4% |
| Q2 FY26 | $1.6B–$1.8B (Aug 27, 2025) | $1.7B | within the range | +0.9% |
| Q1 FY26 | $1.7B (May 29, 2025) | $1.4B | below the range | -19.2% |
| Q4 FY25 | $1.6B–$1.8B (Feb 27, 2025) | $1.7B | within the range | +0.4% |
| FY25 | $6.5B–$6.7B (Aug 28, 2024) → raised $6.5B–$6.7B (Nov 21, 2024) → lowered $6.5B–$6.6B (Feb 27, 2025) | $6.6B | within the range | +0.1% |
GAAP gross margin
Met or beat 2 of 3 periods (2 above, 0 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | 66.0%–67.0% (Sep 2, 2026) | — | to be reported | — |
| Q4 FY26 | 68.5%–69.5% (Feb 26, 2026) | 70.1% | above the range | +1.1 pts |
| FY26 | 69.5%–70.5% (Aug 27, 2025) | 70.7% | above the range | +0.7 pts |
| Q3 FY26 | 71.3%–72.3% (Nov 25, 2025) | 70.6% | below the range | -1.2 pts |
Gross margin
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | 67.5%–68.5% (May 28, 2026) | — | to be reported | — |
| Q1 FY27 | 68.1%–69.1% (May 28, 2026) | — | — | — |
| FY26 | 70.0%–71.0% (May 29, 2025) | — | — | — |
| Q1 FY26 | 70.0%–71.0% (May 29, 2025) | — | — | — |
| FY25 | 70.0%–71.0% (May 30, 2024) → reaffirmed 70.0%–71.0% (Aug 28, 2024) → reaffirmed 70.0%–71.0% (Nov 21, 2024) → lowered 70.0% (Feb 27, 2025) | — | — | — |
| FY24 | 70.0% (Nov 28, 2023) → raised 70.0%–71.0% (Feb 29, 2024) | — | — | — |
GAAP operating margin
Met or beat 0 of 1 periods (0 above, 0 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | 30.3%–31.3% (Sep 2, 2026) | — | to be reported | — |
| FY26 | 28.8%–29.8% (Aug 27, 2025) | 24.2% | below the range | -5.1 pts |
Operating margin
This line is not in the statements Filing Flows reads, so there is no reported figure to hold it to.
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| FY27 | 22.1%–23.1% (May 28, 2026) | — | to be reported | — |
| Q1 FY27 | 19.4%–20.4% (May 28, 2026) | — | — | — |
| Q4 FY26 | 25.5%–26.5% (Feb 26, 2026) | — | — | — |
| Q3 FY26 | 24.5%–25.5% (Nov 25, 2025) | — | — | — |
| FY26 | 22.8%–23.8% (May 29, 2025) → raised 23.5%–24.5% (Nov 25, 2025) → lowered 23.3%–24.3% (Feb 26, 2026) | — | — | — |
| Q1 FY26 | 19.0%–20.0% (May 29, 2025) | — | — | — |
| FY25 | 20.0%–21.0% (May 30, 2024) → reaffirmed 20.0%–21.0% (Aug 28, 2024) → raised 21.0%–21.5% (Nov 21, 2024) → lowered 20.0%–20.5% (Feb 27, 2025) | — | — | — |
| FY24 | 19.0% (Nov 28, 2023) → reaffirmed 19.0% (Feb 29, 2024) | — | — | — |
GAAP net income
Met or beat 1 of 2 periods (1 above, 0 within, 1 below).
| Period | Guided (and how it moved) | Reported | Result | vs midpoint |
|---|---|---|---|---|
| Q1 FY26 | $340M (May 29, 2025) | $233M | below the range | -31.5% |
| FY25 | $291M (May 30, 2024) | $1.2B | above the range | +307.6% |
The latest quarter
NetApp, Q1 FY27: revenue $1.8B (+30% year over year), operating margin 26.6%, net earnings $375M, operating cash flow $503M. The chart follows the revenue to costs, profit and cash.
Questions
Does NetApp beat its guidance?
NetApp gave guidance in 12 earnings releases on file since Nov 28, 2023. Of 15 guided periods since reported, it met or beat its own guidance 11 times (73%). Revenue: 8 of 9, on average -1.6% against the guided midpoint.
How often does NetApp raise guidance?
Its earnings releases raised guidance once and lowered it 0 times since Nov 28, 2023.
Each guided period is held to the last guidance given before its figures were reported; a single figure counts as in line within 1% (0.25 pts for a rate). Reported figures are GAAP, from the company's filings; adjusted guidance shows its moves only.