For the quarter ended January 2025, NetApp (NTAP) reported revenue of $1.64 billion, up 2.2% over the same period last year. EPS came in at $1.91, compared to $1.94 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.69 billion, representing a surprise of -3.09%. The company has not delivered EPS surprise, with the consensus EPS estimate being $1.91.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how NetApp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Gross margin - Product - Non-GAAP: 56.7% versus the eight-analyst average estimate of 59.5%.
• Total Revenue - % Change: 2% versus the seven-analyst average estimate of 5.2%.
• Gross margin - Services - Non-GAAP: 82.8% versus 82.2% estimated by seven analysts on average.
• Geographic Mix - EMEA: 34% compared to the 33.7% average estimate based on four analysts.
• Geographic Mix - Americas: 51% compared to the 51.1% average estimate based on four analysts.
• Geographic Mix - Asia Pacific: 15% versus the four-analyst average estimate of 15.2%.
• Net revenues- Services: $883 million versus $900.11 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +2.8% change.
• Net revenues- Product: $758 million versus $793.22 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +4.7% change.
• Net revenues- Public Cloud: $174 million versus $173.43 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +15.2% change.
• Net revenues- Hybrid Cloud: $1.47 billion versus the five-analyst average estimate of $1.52 billion. The reported number represents a year-over-year change of +0.8%.
• Net revenues- Support: $621 million versus $642.46 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.6% change.
• Net revenues- Professional and Other Services: $88 million versus $87.02 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +14.3% change.

View all Key Company Metrics for NetApp here>>>

Shares of NetApp have returned +3.5% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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