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- NetApp topped fourth-quarter revenue estimates on Thursday on strong demand for its cloud-based data management services, while the company also approved a new share buyback plan worth an additional $1 billion.
The company, which has clients such as Amazon.com's Amazon Web Services, Google Cloud and Microsoft's Azure, helps businesses improve efficiency of their data storage infrastructure. The company expects 2025 revenue to be between $6.45 billion and $6.65 billion. Its midpoint was $6.55 billion, above estimates of $6.53 billion, according to LSEG data.For the first quarter, NetApp expects to report net revenue between $1.46 billion and $1.61 billion, with the midpoint above estimates of $1.52 billion.Net revenue for the fourth quarter came in at $1.67 billion, slightly above analysts' estimate of $1.66 billion.
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