NetApp Gearing Up to Report Q3 Earnings: Here's What to Expect

Core Insights - NetApp, Inc. (NTAP) is expected to report third-quarter fiscal 2026 earnings on February 26, with non-GAAP earnings per share projected between $2.01 and $2.11, and a Zacks Consensus Estimate of $2.07, reflecting an 8.4% year-over-year growth [1][10] Financial Performance - Anticipated net sales for the quarter are between $1.615 billion and $1.765 billion, with a Zacks Consensus Estimate of $1.69 billion, indicating a 2.9% increase from the previous year [2] - NTAP has beaten earnings estimates in three of the last four quarters, with an average surprise of 2.68% [2] Demand and Product Performance - There is increasing demand for NetApp's modern all-flash arrays, particularly the C-series and ASA products, with All-Flash Array revenues rising 9% year-over-year to $1 billion in the fiscal second quarter, equating to an annualized run rate of $4.1 billion [3][10] - The company is also seeing growth in its cloud storage and AI solutions, having launched AFX and AIDE, and closed around 200 AI-related deals [4] Public Cloud Segment - The Public Cloud segment's revenues increased by 2% to $171 million, with an 18% growth year-over-year when excluding the divested Spot business; first-party and marketplace cloud storage services grew by 32% [5] - The Zacks Consensus Estimate for the Public Cloud segment revenues is $179 million for the fiscal third quarter [5] Recent Developments - On December 9, 2025, NetApp and F5 expanded their collaboration to deliver AI data solutions, integrating NetApp's data infrastructure with F5's security platform [7] - On December 2, 2025, NetApp introduced a new capability to connect AWS AI and Analytics services directly to its data across cloud and on-premises environments [8]