US Stock Movers | NetApp surged nearly 16% in pre-market trading, with strong Q4 results benefiting from the "AI storage supercycle"

Glonghui, May 29 – Enterprise storage service provider NetApp (NTAP.US) surged nearly 16% in pre-market trading to $165. According to reports, NetApp’s revenue for the fourth fiscal quarter reached approximately $1.948 billion, up 12% year-over-year, surpassing the analyst consensus estimate of $1.85 billion. Adjusted earnings per share hit a record high of $2.43, up 11% year-over-year, also beating the expected $2.27. This strong performance was mainly driven by accelerated growth in its all-flash array business and public cloud high-performance storage business, benefiting from the “AI storage super cycle.” During the period, all-flash array business revenue increased 18% year-over-year to a record $1.22 billion, while public cloud business revenue rose 11% year-over-year to $182 million. Looking ahead to the first quarter of fiscal year 2027, the company expects revenue to be between $1.75 billion and $1.9 billion, and adjusted earnings per share to be between $2.05 and $2.15, both above expectations.