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Pure Storage: Fiscal 2Q Earnings Snapshot

August 21, 2019

MOUNTAIN VIEW, Calif. (AP) _ Pure Storage Inc. (PSTG) on Wednesday reported a loss of $66 million in its fiscal second quarter.

On a per-share basis, the Mountain View, California-based company said it had a loss of 26 cents. Earnings, adjusted for stock option expense and amortization costs, were 1 cent per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The data storage company posted revenue of $396.3 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $394.6 million.

For the current quarter ending in November, Pure Storage said it expects revenue in the range of $434 million to $446 million.

The company expects full-year revenue in the range of $1.65 billion to $1.72 billion.

Pure Storage shares have fallen 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.87, a drop of 37% 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

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