NetApp lifted its fiscal 2027 revenue guidance to $7.975B-$8.225B and raised earnings per share outlook to $9.73-$10.03, according to the company's Q1 announcement issued September 2. The storage and data management company increased both ranges from its May outlook, citing stronger-than-expected demand.
The guidance raise comes after NetApp posted first-quarter results that beat analyst estimates. The company competes with Dell EMC, Pure Storage, and HPE in enterprise storage infrastructure. AI data center buildout has driven customer spending on high-performance storage systems across the sector.
NetApp's prior FY2027 revenue guidance, issued in May, projected $7.85B-$8.15B. The new midpoint of $8.1B represents a $75 million increase from the old midpoint, or 0.93 percent. The EPS raise from a prior range of $9.45-$9.75 to $9.73-$10.03 shifts the midpoint up 2.9 percent to $9.88.
The company attributed the raise to sustained demand across its All-Flash Array and hybrid flash product lines, particularly in North America and Europe. NetApp sells storage platforms used by financial services, healthcare, and technology enterprises to manage unstructured data, a workload that has expanded as organizations deploy large language models and AI inference infrastructure.
NetApp trades on Nasdaq under the ticker NTAP. The stock has traded between $78 and $119 over the past 12 months as of the earnings date. The company reported $8.77 in Q1 EPS on revenue of $2.02B, compared to analyst consensus estimates of $8.49 and $1.98B respectively.
The fiscal 2027 outlook now carries a $250 million revenue range, narrower than the prior $300 million band. NetApp has raised guidance late in the fiscal year in prior cycles. The company faces ongoing supply chain headwinds common to semiconductor and storage hardware vendors, which it disclosed as a risk in the announcement.
The number that decides whether NetApp sustains this guidance is orders growth: if new bookings in Q2 FY2027 decline more than 10 percent sequentially, management would likely flatten the current raised guidance at October's earnings call.
