What's Going On With Pure Storage Stock?

Pure Storage Inc PSTG shares are trading down in extended trading Wednesday after the company reported mixed fourth-quarter financial results. 

• Q4 Revenue: $810.21 million missed estimates of $811.13 million
• Q4 EPS: $0.53 beat estimates of $0.39

Revenue was up 14% year-over-year in the fourth quarter, while full-year revenue came in up 26%. The company also authorized up to $250 million in incremental share repurchases.

"Pure continued to grow faster than the market this year with the industry's most advanced, reliable, and energy-efficient products and services. Despite current macro conditions, we remain confident in our ability to execute, manage costs, and maintain a strong innovation cycle, highlighted by today's introduction of FlashBlade//E," said Charles Giancarlo, chairman and CEO of Pure Storage.

Pure Storage sees full-year 2024 revenue growth in the mid to high single-digit range. 

What Else: Pure Storage announced FlashBlade//E, a scale-out unstructured data repository built to handle exponential data growth with industry-leading energy efficiency. 

FlashBlade//E is expected to be available by the end of April.

See Also: After-Hours Action: Why Box Stock Is Tumbling

PSTG Price Action: Pure Storage shares are down 6.56% after hours at $28.79 at the time of writing, according to Benzinga Pro.

Photo: Courtesy of Pure Storage