NetApp Inc
For the period ended Jul 26, 2024. Filed Aug 28, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jul 26, 2024 · Filed Aug 28, 2024
NTAP$175.99-0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income
(In millions, except per share amounts)
| Three Months Ended | ||
|---|---|---|
| July 26, 2024 | July 28, 2023 | |
| Net revenues: | ||
| Product | $669 | $590 |
| Services | 872 | 842 |
| Net revenues | 1,541 | 1,432 |
| Cost of revenues: | ||
| Cost of product | 269 | 265 |
| Cost of services | 174 | 171 |
| Total cost of revenues | 443 | 436 |
| Gross profit | 1,098 | 996 |
| Operating expenses: | ||
| Sales and marketing | 471 | 468 |
| Research and development | 252 | 247 |
| General and administrative | 75 | 74 |
| Restructuring charges | 17 | 26 |
| Acquisition-related expense | 1 | 3 |
| Total operating expenses | 816 | 818 |
| Income from operations | 282 | 178 |
| Other income, net | 17 | 8 |
| Income before income taxes | 299 | 186 |
| Provision for income taxes | 51 | 37 |
| Net income | $248 | $149 |
| Net income per share: | ||
| Basic | $1.20 | $0.70 |
| Diluted | $1.17 | $0.69 |
| Shares used in net income per share calculations: | ||
| Basic | 206 | 212 |
| Diluted | 212 | 216 |
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