NetApp reported Q2 FY2025 results with net revenues of $1.66 billion, up 6% year-over-year. Net income reached 18% of revenue, compared to 15% in Q2 FY2024. Product revenues increased 9% to $768 million, while services revenues grew 4% to $890 million. The company's Hybrid Cloud segment saw strong growth in all-flash array systems sales.Operating expenses decreased to 50% of net revenues from 52% last year, reflecting improved operational efficiency. Cash flow from operations was $446 million for the first half of FY2025. NetApp repurchased 5.8 million shares for $700 million and paid $213 million in dividends during this period.Looking ahead, NetApp remains focused on driving growth in total product revenues while maintaining operational discipline. The company expects capital expenditures of $50-100 million for the remainder of FY2025. With $2.2 billion in cash and investments, NetApp believes it has sufficient liquidity to meet its cash requirements for at least the next 12 months and beyond.

NetApp reported Q2 FY2025 results with net revenues of $1.66 billion, up 6% year-over-year. Net income reached 18% of revenue, compared to 15% in Q2 FY2024. Product revenues increased 9% to $768 million, while services revenues grew 4% to $890 million. The company's Hybrid Cloud segment saw strong growth in all-flash array systems sales.Operating expenses decreased to 50% of net revenues from 52% last year, reflecting improved operational efficiency. Cash flow from operations was $446 million for the first half of FY2025. NetApp repurchased 5.8 million shares for $700 million and paid $213 million in dividends during this period.Looking ahead, NetApp remains focused on driving growth in total product revenues while maintaining operational discipline. The company expects capital expenditures of $50-100 million for the remainder of FY2025. With $2.2 billion in cash and investments, NetApp believes it has sufficient liquidity to meet its cash requirements for at least the next 12 months and beyond.