5 Keys To Understanding NetApp’s Second-Quarter Financials
Joseph F. Kovar
‘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.
Strength In All-Flash Storage
In addition to its big push into the public cloud, NetApp is continuing to grow its hybrid cloud segment via improvements in its object storage technology targeting growing unstructured data and analytics use cases, Kurian said.
NetApp is also going all out on the all-flash storage array business, he said. During its second fiscal quarter, NetApp’s all-flash array business reached a record high annualized run rate of $3.1 billion, which was up 22 percent year on year, Kurian said.
“All-flash arrays now compose 30 percent of our installed base systems,” he said. “We see substantial headroom to continue to help existing and new customers modernize their storage environments. Based on our continued strong revenue growth, I am confident that we once again gained share in the enterprise storage and all-flash array markets.”