Pure Storage: Fiscal Q1 Earnings Snapshot
Posted May 26, 2021 4:18 pm.
Last Updated May 26, 2021 4:24 pm.
MOUNTAIN VIEW, Calif. (AP) _ Pure Storage Inc. (PSTG) on Wednesday reported a loss of $84.2 million in its fiscal first quarter.
On a per-share basis, the Mountain View, California-based company said it had a loss of 30 cents. Earnings, adjusted for stock option expense and non-recurring costs, came to less than 1 cent on a per-share basis.
The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The data storage company posted revenue of $412.7 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $406.3 million.
For the current quarter ending in August, Pure Storage said it expects revenue in the range of $470 million.
Pure Storage shares have declined 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.30, a climb of 15% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSTG at https://www.zacks.com/ap/PSTG
The Associated Press
