Is there a way to think about how much of the sequential or year-over-year growth you saw in all-flash arrays was due to the implementation of you Run-to-NetApp initiative versus upgrading your installed base? Thank you for the question. So thanks for the question. As you know, we paused our share repurchase program in the last two quarters because of the macro backdrop. We had a record number of attendees, including a dramatic increase in the number of prospects and first-time attendees. Congrats on a nice quarter. When does kors report earnings. As I've said before, we love our market position. Assumed in this guidance is interest expense of $15 million to $20 million. So it's early. Lou Miscioscia -- Daiwa Capital Markets -- Analyst. The vaccine trials should give us all incremental confidence. And I know it's composed of about 80% hardware maintenance and about 20% pro services. So you need to, when you look quarter on quarter, back out that increase or that amount in Q1. Your line is now open. The human challenge and the cost of doing so is high, right? For the last reported quarter, it was expected that NetApp would post earnings of $0.40 per share when it actually produced earnings of $0.73, delivering a surprise of +82.50%. So keep in mind, last year, two big movers on cash flow to note, and you saw it in the numbers in Q2 of last year, that the tax payments were pulled forward really into Q2. And to the extent that we execute in their all-flash transition, it gives us a chance to pick up share. I wanted to drill into the product revenue, particularly the software product revenue, which grew really well in the quarter. More recently, we have been encouraged by the stability in our business, broader macro trends, and the recent positive results of several COVID-19 vaccine trials. NetApp (NTAP) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.72 per share. It was good execution in the public sector business. NetApp, Inc. is the data authority for hybrid cloud. And so there's a very large opportunity in front of us. Based on superior fundamental research that combines with sentiment data, quantitative studies, and technical analysis for a valuable stock price indicator. And as we talked about on the last two earnings calls, we're not guiding any ELAs going forward because they are such a small portion of our business, which is why we're not breaking those out any longer going forward. As we talked about in my prepared remarks, the breadth of the business is encouraging, and we're going to continue to stay focused and execute. Thanks. Now a lot of that depends on the economy. Thank you, George. I'll now turn it over to Mike to walk you through the results of the quarter. Thank you very much. This is Victor Chiu in for Simon Leopold. We anticipate our non-GAAP tax rate to be between 16% and 17%. I think when I look at puts and takes between Q1 and Q2, deals move around between the quarters. Find the latest Earnings Report Date for NetApp, Inc. Common Stock (NTAP) at Nasdaq.com. A number of conversations we've had suggested that Dell's mid-range power store refresh has fallen somewhat short of market's expectations. NetApp delivered another strong quarter with revenue, operating margins, and EPS all exceeding our guidance. The second is with regard to the software contribution, what we do with software in the all-flash arrays is to make them much more efficient in terms of data reduction, data compression, and so on. Is that a logical way to think of things that the second half of this year could even be stronger? Hey, Paul, it's Mike. Market Overview. Our growing margin-rich software and recurring maintenance and cloud revenues support our ability to deliver value for customers and shareholders. This compares to earnings of … So on a year-over-year basis, it was up 14%. NTAP has a 59% positive surprise history (having topped the whisper in 29 of the 49 earnings reports for which we have data). And as you noted correctly, we are very confident we are taking share in the market. Your line is open. So a couple of pieces on this that I would focus on. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). Yes. Ip address class range private. Where is NTAP's stock price going from here? And so we're trying to balance the reality with the fact that our customer engagement, even in Q3 and compared with them, continue to be very constructive. Our next question comes from Ananda Baruah with Loop Capital. Staples earnings per share. Our next question comes from George Iwanyc with Oppenheimer. Your line is now open. That depends entirely on the conversation we just had earlier, Eric, in terms of the mix. George Iwanyc -- Oppenheimer and Company -- Analyst. I'll now pass it back to George for final comments. These engineers are using data to create AI-driven recommendations to increase sales and improve customer satisfaction. We introduced serverless and storage-less solutions for containers, autonomous hybrid cloud storage, and data management and elastic scale for the modern workplace. I'll now hand the call back to Kris to open the call for Q&A. Our next question comes from Mehdi Hosseini with SIG. With regard to what we do with Keystone is offer it to customers who don't want to deploy and manage infrastructure, but just want to have an outcome as a service. I think our product portfolio is the best in the market. In your commentary, you highlighted the Keystone as a service model. In Q2, net revenue of $1.42 billion increased 3% year over year, including 1 point of currency tailwind. And we think that there are more technologies coming online over the next 18 to 24 months that will move more and more of the disk-based market to the all-flash market. Our next question comes from Rod Hall with Goldman Sachs. I'll talk about the first part of your question, Amit, thank you, and then I'll give it to Mike to talk about the product gross margin. Retail Sales. And so the advantage will be even more material. Your line is now open. And everything that doesn't go to revenue goes to the balance sheet, which is great for our future support revenue. Oct 26 - Oct 27, 2020 Event Content. Q2 operating expenses of $657 million were in line with our expectations. We are helping customers manage their data far more effectively for digital transformation and tackle the challenges of hybrid cloud. Our two key strategic focus areas, our industry-leading all-flash storage business, and public cloud services, both outperformed our expectations in the quarter. But going forward, we're not going to break those out separately. At a dominant U.S.-based retailer, NetApp was selected to support the work of 500 data scientists with plans to expand to 1,000. Thanks. NetApp (NTAP) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended July 2020. NetApp INSIGHT 2020 Digital Event. I think within the customer base, I want to highlight three things. NetApp, Inc. (NTAP) : Earnings Whisper August 19, 2015 WSP. Sentiment. NetApp has a 64% positive surprise history (having topped the whisper in 37 of the 58 earnings … I think we got to compete to win share in the all-flash array transition that that drives, right? Your line is now open. Yeah, thanks. We paid about $100 million more in taxes last year in Q2 than this year. Earnings Summary. Yes, thank you. The Run-to-NetApp campaign, which is a competitive migration program, had another very strong quarter in Q2. NetApp (NASDAQ:NTAP)Q4 2020 Earnings CallDec 01, 2020, 5:00 p.m. And so I guess as we think about the sustainability of your growth rate for all-flash arrays, have you changed the way you incentivize your sales force for these Run-to-NetApp initiatives or for upgrading your installed base to all-flash? We are a trusted partner to the world's leading organizations who are undertaking digital transformations. Ananda Baruah -- Loop Capital Markets -- Analyst. If my memory is correct, I think your sales force was all in place about a quarter ahead of time, which means by now, they're kind of fully onboarded, got their healthcare benefits, done shadowing, and are out there. Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. I am confident in both our long-term opportunity and our ability to execute against it. The only provider of real, professional Earnings Whisper numbers for traders and investors. [Operator instructions] Our first question comes from Tim Long with Barclays. What do you expect when NTAP reports earnings? We think that the economy has mostly stabilized and it will go forward, it should get better from here. Listen. Thanks for taking my question. How to attach a dog tether to a vehicle. And as we said, we are enabling them, and it takes about four quarters to get a rep fully up to speed. We're trying to balance the sobering reality of what the next few months looks like, right, for businesses, for families, the lockdowns, not only in the U.S. but in many, many parts of the world. So still all good on the acquisitions. I'm excited at the pipeline of Keystone and the wins we're having. Our software-driven portfolio allows companies to redefine how they manage data, storage, and infrastructure, whether in the cloud or on-premises.