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NetApp (NTAP) Announces a Partnership with Elastio
Yahoo Finance· 2026-03-31 15:45
Group 1: Company Overview - NetApp, Inc. (NASDAQ:NTAP) specializes in software, systems, and services for managing and sharing data on-premises, as well as providing private and public cloud solutions globally [3]. Group 2: Recent Developments - On March 24, 2026, NetApp announced a partnership with Elastio to integrate Elastio's Provable Recovery Control into its Ransomware Resilience Service, aiming to enhance cyber resilience by extending defense from production storage to recovery data [1]. - The company reported third-quarter fiscal 2026 earnings of $1.71 billion in net revenue, reflecting a 4% year-on-year increase, with GAAP EPS of $1.67 and a record non-GAAP EPS of $2.12 [2]. - All-flash array revenue increased by 11% to a record $1.0 billion, while public cloud revenue rose by 27% year on year to $174 million [2]. Group 3: Financial Performance - NetApp posted billings of $1.89 billion, marking a 10% rise, and reported GAAP operating income of $434 million, with non-GAAP operating income reaching $533 million [2]. - The CEO, George Kurian, attributed the company's rapid growth to all-flash arrays, cloud services, and AI demand, emphasizing the company's operational discipline and positioning as an AI data backbone [2].