AP NEWS

Pure Storage: Fiscal 2Q Earnings Snapshot

August 21, 2018

MOUNTAIN VIEW, Calif. (AP) _ Pure Storage Inc. (PSTG) on Tuesday reported a loss of $60.1 million in its fiscal second quarter.

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

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The data storage company posted revenue of $308.9 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $301.6 million.

For the current quarter ending in November, Pure Storage said it expects revenue in the range of $361 million to $369 million.

The company expects full-year revenue in the range of $1.35 billion to $1.38 billion.

Pure Storage shares have risen 39 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.01, a climb of 73 percent 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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