05-29-2018, 09:44 AM
So needless to say, it's NetApp's flash arm that is driving much of its growth. Flash revenues grew 43% y/y, and NetApp's total base of "strategic revenues" (aka, non-legacy technologies, comprising mostly of flash), grew 25% y/y to encompass 74% of its total revenues. The annual flash run rate in the quarter also reached a robust $2.4 billion (for reference, Pure Storage is guiding to full-year revenues of ~$1.3 billion, so NetApp has already reached nearly double its scale and at a faster growth rate).
NetApp: Turbulence Continues - NetApp, Inc. (NASDAQ:NTAP) | Seeking Alpha