NetApp, Inc. (NTAP) Q3 2023 Earnings Call Transcript
NetApp, Inc. (NASDAQ:NTAP) Q3 2023 Results Conference Call February 22, 2023 5:00 PM ET
Company Participants
Kris Newton - VP, IR
George Kurian - CEO
Mike Berry - CFO
Conference Call Participants
Amit Daryanani - Evercore
David Vogt - UBS
Steven Fox - Fox Advisors
Wamsi Mohan - Bank of America
Mehdi Hosseini - SIG
Tim Long - Barclays
Samik Chatterjee - JP Morgan
Krish Sankar - Cowen and Company
Matt Sheerin - Stifel
Sidney Ho - Deutsche Bank
Jim Suva - Citigroup
Jason Ader - William Blair
Meta Marshall - Morgan Stanley
Shannon Cross - Credit Suisse
Nehal Chokshi - Northland
Ananda Baruah - Loop Capital
Kyle McNealy - Jefferies
Operator
Good day, and welcome to the NetApp Third Quarter Fiscal Year 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to Kris Newton, Vice President of Investor Relations. Please go ahead.
Kris Newton
Hi everyone. Thanks for joining us. With me today are our CEO, George Kurian, and CFO, Mike
Berry.
This call is being webcast live and will be available for replay on our website at netapp.com. During today’s call we will make forward-looking statements and projections with respect to our financial outlook and future prospects, such as our guidance for fourth quarter and fiscal year 2023; our expectations regarding future revenue, profitability, and shareholder returns; our alignment with the secular growth trends of data-driven digital and cloud transformations; our expectations regarding the future growth in the number of cloud customers, their usage of cloud services and the resulting impact on our Public Cloud and Hybrid Cloud segments; our ability to deliver innovation, sharpen our execution and focus on our strategic growth opportunities while optimizing our operating costs; and our ability to strengthen our position, rebalance our sales and marketing efforts and drive sustained growth in both our Hybrid Cloud and Public Cloud segments in a turbulent macroeconomic environment, all of which involve risk and uncertainty.
We disclaim any obligation to update our forward-looking statements and projections. Actual results may differ materially for a variety of reasons, including macroeconomic and market conditions such as the IT capital spending environment, including the focus on optimization of cloud spending; inflation, rising interest rates and foreign exchange volatility; and the continuing impact and uneven recovery of the COVID-19 pandemic, including the resulting supply chain disruptions; as well as our ability to keep pace with the rapid industry, technological and market trends and changes in the markets in which we operate, execute our evolved cloud strategy and introduce and gain market acceptance for our products and services, maintain our customer, partner, supplier and contract manufacturer relationships on favorable terms and conditions, manage material cybersecurity and other security breaches, and manage our gross profit margins and generate greater cash flow.