Proact: Solid numbers and raised guidance from NetApp - ABG

Product sales (+13% y-o-y) and new billings (+12%) with the strongest growth rates in >2 years
Uncertain macro but strong execution behind small FY guidance upgrade
Supportive data for continued positive System sales growth in Proact


Solid Q1'25 figures from NetApp

NetApp reported its Q1'25 numbers yesterday after market close, with sales growing 8% y-o-y, product sales 13% and new billings 12%. These are the strongest growth rates in more than two years across the board, showing the solid momentum around data storage products and solutions, despite a challenging macro environment. Q1 figures hit or exceeded the provided guidance, and also FactSet consensus in general. NetApp highlighted an uncertain macro environment and pressure on IT budgets, but as a result of the good execution, still raised the FY guidance slightly.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/proact/Equity-research/2024/8/proact---solid-numbers-and-raised-guidance-from-netapp/