NTAP Q1 Earnings & Revenues Top Estimates on AI and All-Flash Strength

NetApp (NTAP) posted record fiscal Q1 2027 results, with EPS surging 66.5% year-over-year to $2.58 and revenues jumping 29.9% to $2.03 billion, both beating estimates. All-flash array sales reached $1.31 billion, fueled by heightened AI infrastructure spending.

The company raised full-year guidance to $7.975–$8.225 billion in revenues, representing 17% growth at the midpoint, while EPS guidance climbed to $9.73–$10.03, reflecting 22% growth. The upward revision signals management confidence in sustained demand for AI-optimized storage solutions and all-flash products.

NetApp's all-flash business now represents a majority of quarterly revenue, underlining the shift from legacy storage to higher-margin, performance-driven systems. The AI tailwind appears to be broadening beyond hyperscalers into enterprise deployments, supporting the elevated growth trajectory.