NetApp reported fiscal 2027 first-quarter revenue of $2.03 billion, up 30% year over year and above the $1.84 billion consensus, while adjusted earnings of $2.58 per share rose 66% and exceeded estimates of $2.11-$2.12. All-flash array sales increased 47% to $1.31 billion, public cloud revenue rose 28% to $206 million, and the company closed about 350 artificial intelligence and data-lake modernization deals. NetApp raised its full-year revenue outlook to $7.975 billion-$8.225 billion and adjusted EPS guidance to $9.73-$10.03 from $8.70-$9.00. Shares nevertheless fell between 8.2% and 8.92% in reported premarket and extended-trading indications, as operating cash flow declined 25% to $503 million, free cash flow fell 35% to $401 million, inventories nearly doubled to $375 million, and management said the quarter benefited from an extra week and accelerated purchases by a limited number of large customers. For the second quarter, NetApp forecast revenue of $2.1 billion, plus or minus $75 million, and adjusted EPS of $2.54-$2.64, with gross margin expected at 67%-68%.