AP NEWS

Pure Storage: Fiscal 3Q Earnings Snapshot

November 19, 2018

MOUNTAIN VIEW, Calif. (AP) _ Pure Storage Inc. (PSTG) on Monday reported a loss of $28.2 million in its fiscal third quarter.

The Mountain View, California-based company said it had a loss of 12 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 13 cents per share.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The data storage company posted revenue of $372.8 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $366.6 million.

For the current quarter ending in January, Pure Storage said it expects revenue in the range of $438 million to $446 million.

The company expects full-year revenue of $1.38 billion.

Pure Storage shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.53, an increase of almost 1 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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