Pure Storage Shares Surge 8% on Q1 Earnings Beat and Raise
2022.06.01 23:46
Pure Storage (PSTG) Shares Surge 8% on Q1 Earnings Beat and Raise
By Davit Kirakosyan
Pure Storage Inc . (NYSE:PSTG) shares rose more than 8% after-hours following the company’s reported Q1 results, with EPS of $0.25 coming in better than the consensus estimate of $0.04.
Revenue grew 50% year-over-year to $620.4 million, compared to the consensus estimate of $522.88 million. Subscription services revenue grew 35% year-over-year to $219.2 million, and Subscription Annual Recurring Revenue (ARR) grew 29% year-over-year to $899.8 million.
The company expects Q2/23 revenue of $635 million, above the consensus estimate of $606.28 million. For the full 2023-year, the company expects revenue of $2.66 billion, compared to the consensus estimate of $2.59 billion.
