Pure Storage stock up 10% as a result, top Street View outlook

Pure Storage Inc. shares rallied in Wednesday’s extended session after the flash-based data storage company’s results and outlook beat Wall Street estimates.

PureStorage PSTG,
+1.18%
Shares were up 10% after the close after rising 1.2% in the regular session to close at $24.01.

The company reported a loss of $11.5 million, or 4 cents a share, for the first quarter, compared to a loss of $84.2 million, or 30 cents a share, in the year-ago period.

Adjusted earnings, which exclude stock-based compensation expense and other items, were 25 cents per share compared to breakeven per share in the prior-year period.

Revenue increased to $620.4 million from $412.7 million in the year-ago quarter.

Analysts polled by FactSet had forecast 4 cents a share on sales of $521.7 million.

Pure Storage forecast revenue of approximately $635 million for the second quarter and approximately $2.66 billion for the year.

Analysts estimate earnings per share at 16 cents on revenue of $604.6 million for the second quarter and 83 cents a share on revenue of $2.59 billion for the year.

https://www.marketwatch.com/story/pure-storage-stock-rallies-10-as-results-outlook-top-street-view-11654115927?rss=1&siteid=rss Pure Storage stock up 10% as a result, top Street View outlook

Brian Lowry

InternetCloning is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@internetcloning.com. The content will be deleted within 24 hours.

Related Articles

Back to top button