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• Exhibit 99.1 NetApp Reports Third Quarter of Fiscal Year 2021 Results Net revenues of $ 1.47 billion ; up 5 % year - over - year Operating margin and EPS above expectations Billings¹ of $ 1.60 billion , increased 6 % year - over - year • NetApp ™ public cloud services annualized revenue run rate² of $ 237 million , an increase of 186 % year - over - year All - flash array annualized net revenue run rate of $ 2.6 billion , an increase of 11 % year - over - year $ 157 million returned to shareholders in share repurchases and cash dividends SUNNYVALE , Calif . — February 24 , 2021 — NetApp ( NASDAQ : NTAP ) today reported financial results for the third quarter of fiscal year 2021 , which ended on January 29 , 2021 . " We delivered another strong quarter with revenues at the top of our guidance range and operating margin and EPS above the high end of our expectations . We have sharpened our execution and Q3 fiscal year 2021 marks our third consecutive quarter of revenue and billings growth , ” said George Kurian , chief executive officer . “ Looking ahead , we are uniquely positioned to address customers ' requirements for digital transformations as they deploy workloads in the cloud , as well as maintain and modernize on premises . We are confident in the strength of our position as customers continue to turn to NetApp to help them solve the challenge of managing data in the hybrid cloud as the recovery unfolds . " Third quarter of fiscal year 2021 financial results ⚫ Net Revenues : $ 1.47 billion , compared to $ 1.40 billion in the third quarter of fiscal year 2020 ⚫ Net Income : GAAP net income of $ 182 million , compared to GAAP net income of $ 277 million in the third quarter of fiscal year 2020 ; non - GAAP net income4 of $ 250 million , compared to non - GAAP net income of $ 265 million in the third quarter of fiscal year 2020 Earnings per Share : GAAP net income per share5 of $ 0.80 compared to GAAP net income per share of $ 1.21 in the third quarter of fiscal year 2020 ; non - GAAP net income per share of $ 1.10 , compared to non - GAAP net income per share of $ 1.16 in the third quarter of fiscal year 2020 Cash , Cash Equivalents and Investments : $ 3.89 billion at the end of the third quarter of fiscal year 2021