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5 Keys To Understanding NetApp’s Second-Quarter Financials

‘As I’ve said many times, our public cloud services not only allow us to participate in the rapidly growing cloud market, but they also make us a more strategic data center partner to our enterprise customers, driving share gains in our hybrid cloud business,’ says NetApp CEO George Kurian.

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Not Just Storage Anymore  

NetApp’s move to the cloud is quickly expanding beyond storage, starting with NetApp's June 2020 acquisition of Spot, a developer of technology to manage and optimize compute on public clouds. During its second fiscal quarter 2022, the company introduced Spot Security, a new product that delivers continuous, automated AI-based security to help analyze, detect and prioritize threats and provide actionable compliance, remediation and prevention, Kurian said. Also new to Spot during the quarter is Intelligent Traffic Flow to help customers optimize applications by intelligently managing and controlling incoming network traffic for optimal instance utilization and performance, he said. NetApp also introduced Spot PC, which Kurian called a “fully managed, secured and continuously optimized desktop service built together with Microsoft to provide a complete solution for Windows 365 and Azure Virtual Desktop.”

Early in NetApp’s third fiscal quarter, NetApp closed its acquisition of CloudCheckr to provide cloud billing analytics and cloud configuration management, monitoring and assessments solutions to augment the full suite of Spot services, Kurian said.

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