Filing Flows › NetApp (NTAP) › Q3 FY25
NetApp (NTAP) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Feb 27, 2025
NetApp (NTAP) reported revenue of $1.6B for the third quarter fiscal 2025 (Q3 FY25), +2% from a year earlier and -1% from the quarter before. Operating margin was 22.1%, net earnings $299M (18.2% of revenue).
NetApp, Q3 FY25: revenue $1.6B (+2% year over year), operating margin 22.1%, net earnings $299M, operating cash flow $385M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | -1% | +2% |
| Gross profit | $1.1B | -3% | -0.5% |
| Operating profit | $362M | +5% | -1% |
| Net earnings | $299M | 0% | -4% |
| Operating cash flow | $385M | — | -20% |
| Free cash flow | $338M | — | -25% |
What changed
Revenue was $1.6B in Q3 FY25, up 2% year over year and down 1% from the previous quarter. Product was the largest line at 46% of revenue. Public Cloud added $0.02B year over year (up 15%), 66% of the total change. Support declined 2%.
Gross margin was 69.8%, down 1.9 points from a year earlier. Operating profit was $0.36B, a 22.1% margin (down 0.7 points year over year). Operating profit fell $4.0M even though revenue rose $0.04B versus a year earlier, so costs grew faster than sales. Operating expenses fell 0% while revenue rose 2%. Net earnings were $0.30B, down 4% year over year. The effective tax rate was 19.2%.
Operating cash flow was $0.39B (down 20% year over year), 129% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.10B of share-based compensation. Working capital and other items used $0.08B. After purchases of Property and Equipment ($0.05B), free cash flow as the company reports it was $0.34B.
Questions
What was NetApp's revenue in the third quarter fiscal 2025?
NetApp (NTAP) reported revenue of $1.6B for the third quarter fiscal 2025 (Q3 FY25), +2% from a year earlier and -1% from the quarter before.
Was NetApp profitable in the third quarter fiscal 2025?
Operating profit was $362M (22.1% of revenue) and net earnings $299M.
Source: NetApp 10-Q on SEC EDGAR.