Pure Storage Shares Pop On Q2 Beat, Q3 Outlook Above Consensus

Pure Storage Inc PSTG shares traded higher by 14.3% at $23.95 on the last check Thursday.
The data storage platform company reported second-quarter FY22 revenue of $496.8 million, up 23% year-on-year, beating the analyst consensus of $469.5 million.
Pure Storage saw strength from both its enterprise and commercial customers across its entire solutions portfolio.
Subscription services revenue grew 31% Y/Y to $171.9 million. Product revenue grew 19% Y/Y to $324.9 million.
Non-GAAP EPS of $0.14 beat the consensus of $0.05.
Pure Storage held $1.3 billion in cash and equivalents.
Pure Storage sees Q3 revenue of $530 million, beating the consensus of $495.2 million. The FY22 revenue guidance of $2.04 billion beat the consensus of $1.96 billion.

Momentum40.60

Growth3.31

Quality-

Value9.09

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Medium

Long

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