NetApp announced its Q3 fiscal 2016 earnings on February 17, reporting a massive 11% year-over-year decline in net revenues to $1.39 billion.  Net revenues were slightly lower than the guidance given by management at the end of the previous quarter. Product revenues fell by over 19% on a y-o-y basis to $750 million – a trend consistent across most large storage vendors in recent quarters. On the other hand, maintenance (both software and hardware) and other revenues combined were up by a modest 2% over the previous year quarter to $636 million.

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