NetApp Announces Q2 FY2024 Results

NetApp Announces Q2 FY2024 Results

Chris EvansAll-Flash Storage, Cloud, Cloud Practice, Cloud Storage, Data Practice: Data Storage, Enterprise, Individual Subscribers, NetApp, Opinion, Storage

NetApp has released financial results for the second quarter of FY2024.  Revenue is down 6%, while billings are down 9%, both year-on-year.  Probably most disappointing is the decline in ARR from the public cloud, which appears to have permanently peaked.  Does this data show a temporary blip or long-term decline for on-premises infrastructure, and what’s happened to NetApp’s Cloud strategy?
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