NetApp, Inc.: Investment In Artificial Intelligence (AI) Yielding Results? 

NetApp concluded its fiscal year 2024 on a high note, demonstrating robust performance in the fourth quarter. The company’s revenue for the fourth quarter and the full fiscal year surpassed the midpoint of their guidance, a result of the strong growth from their expanded all-flash portfolio. They also achieved company records for annual gross margin operating margin, earnings per share, operating cash flow, and free cash flow. NetApp’s all-flash array annualized revenue run rate also reached an all-time high at $3.6 billion, a 17% increase year-over-year, due to strong customer demand for the firm’s all-flash arrays.