NetApp Public Cloud annualised revenue run rate soared 80 per cent in fiscal Q2

The data management vendor’s boss said the results have given the company ‘confidence’ to raise its full year guidance

Kelsey Rees
clock • 2 min read
NetApp Public Cloud annualised revenue run rate soared 80 per cent in fiscal Q2

NetApp has reported an 11 per cent jump in net revenues for the second quarter of fiscal year 2022, ending October 29, 2021, raking in $1.57bn (€1.38bn). The vendor claims its Public Cloud annualised revenue run rate (ARR) surged 80 per cent year on year to $388m (€342m). Public Cloud ARR is calculated as the annualised value of all Public Cloud customer commitments with the assumption that any commitment expiring during the next 12 months will be renewed with its existing terms, it explained...

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