NetApp, Inc. (NASDAQ:NTAP) Q2 2025 Earnings Conference Call November 21, 2024 5:30 PM ET

Company Participants

Kris Newton - VP, IR
George Kurian - CEO
Mike Berry - CFO

Conference Call Participants

Asiya Merchant - Citigroup
Amit Daryanani - Evercore
Tim Long - Barclays
Jason Ader - William Blair
Simon Leopold - Raymond James
Joe Cardoso - JPMorgan
Param Singh - Oppenheimer
Ruplu Bhattacharya - Bank of America
Elizabeth Porter - Morgan Stanley
David Vogt - UBS
Steven Fox - Fox Advisors
Aaron Rakers - Wells Fargo
Louis Miscioscia - Diawa
Ananda Baruah - Loop Capital
Krish Sankar - TD Cowen
Nehal Chokshi - Northland Capital Markets
Ari Terjanian - Cleveland Research Company

Operator

Good day, and welcome to the NetApp Second Quarter of Fiscal Year 2025 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.

I would now like to turn the conference over to Kris Newton, Vice President, 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, including, without limitation, our guidance for the third quarter and fiscal year 2025; our expectations regarding future revenue, profitability and shareholder returns; and other growth initiatives and strategies.

These statements are subject to various risks and uncertainties, which may cause our actual results to differ materially. For more information, please refer to the documents we file from time-to-time with the SEC and on our website, including our most recent Form 10-K and Form 10-Q. We disclaim any obligation to update our forward-looking statements and projections.

During the call, all financial measures presented will be non-GAAP, unless otherwise indicated. Reconciliations of GAAP to non-GAAP estimates are available on our website.

I'll now turn the call over to George.

George Kurian

Thanks, Kris. Good afternoon, everyone. Thank you for joining us today. I’m extremely pleased with our Q2 performance. Revenue growth was driven by a 19% year-over-year increase in all-flash storage and strong performance in first-party and marketplace cloud storage services. We achieved record Q2 operating margin and EPS, ahead of our expectations.