NetApp's stock surged 13.41% in after-hours trading on Thursday, following the release of the company's fiscal fourth-quarter results that significantly exceeded analyst expectations.

The data infrastructure company reported adjusted earnings per share of $2.43 for the quarter, beating the consensus estimate of $2.27. Revenue reached $1.95 billion, surpassing the expected $1.87 billion and marking a 12% increase year-over-year. The strong performance was driven by record all-flash array revenue, which grew 18%, and continued demand in the hybrid and public cloud segments.

Investor sentiment was further bolstered by NetApp's upbeat guidance for the first quarter and full fiscal year 2027, which came in well above Wall Street forecasts. The company also announced a new $1 billion share repurchase program, highlighting its strong cash flow generation and commitment to returning capital to shareholders. CEO George Kurian cited record annual results and growing customer adoption of AI-driven solutions as key factors behind the positive outlook.