Pure Storage (PSTG) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.34 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 15.79%. A quarter ago, it was expected that this data storage company would post earnings of $0.22 per share when it actually produced earnings of $0.32, delivering a surprise of 45.45%. Over the last four quarters, ...

| --- | --- | |-------|-------| | | | | | | | | | | | | Forward Looking Statements and Non-GAAP Information This presentation contains forward-looking statements regarding our products, business and operations, including but not limited to our views relating to future period financial and business results, demand for our products and subscription services, including Evergreen//One, our technology and product strategy, specifically customer priorities around sustainability, the environmental and energy savin ...

Core Insights - Pure Storage reported a total revenue of $763.8 million for Q2 FY2025, reflecting an 11% year-over-year growth [1] - Subscription services revenue reached $361.2 million, up 25% year-over-year, with an annual recurring revenue (ARR) of $1.5 billion, growing 24% year-over-year [1] - The company emphasized its energy-efficient data storage solutions, which are designed to reduce energy consumption compared to traditional hard disk drives (HDD) and solid-state drives (SSD) [2][3] Financial Performance - Total revenue for Q2 FY2025 was $763.8 million, an increase of 11% from the previous year [1] - Subscription services revenue was $361.2 million, representing a 25% increase year-over-year [1] - ARR stood at $1.5 billion, up 24% year-over-year [1] - Remaining performance obligations (RPO) totaled $2.3 billion, also up 24% year-over-year [1] - GAAP gross margin was 70.7%, while non-GAAP gross margin was 72.8% [1] - GAAP operating income was $24.9 million, with a non-GAAP operating income of $138.6 million [1] - Operating cash flow for Q2 was $226.6 million, and free cash flow was $166.6 million [1] Strategic Initiatives - The company introduced new platform capabilities aimed at enhancing AI deployment, cyber resilience, and application modernization [2] - Pure Storage announced its Evergreen//One for AI, a purpose-built AI storage as-a-service, and enhancements to Pure Fusion for storage automation [2] - The company is committed to sustainability, as highlighted in its third ESG report, which states that its platform requires up to 10x less energy than traditional HDDs [2] Market Position and Future Outlook - Pure Storage is positioned as a leader in the storage market, recognized in the 2023 Gartner Magic Quadrant for Primary Storage and Distributed File Systems & Object Storage [4] - For Q3 FY2025, the company anticipates revenue of $815 million, reflecting a year-over-year growth rate of 6.8% [2] - The full fiscal year 2025 revenue guidance is set at $3.1 billion, with a year-over-year growth rate of 10.5% [2] - Total contract value (TCV) sales for subscription-as-a-service offerings are projected to be $500 million, with a growth rate of approximately 25% year-over-year [2]

Core Viewpoint - The upcoming earnings report for Pure Storage (PSTG) is anticipated to show a quarterly earnings per share (EPS) of $0.38, reflecting an 11.8% increase year-over-year, with revenues expected to reach $756.59 million, a 9.9% increase from the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised downward by 4.9% in the last 30 days, indicating a reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions to the stock, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock price performance [3]. Revenue Projections - Analysts project 'Revenue- Product' to be $401.79 million, a 0.5% increase from the prior-year quarter [5]. - The consensus for 'Revenue- Subscription services' is $354.80 million, indicating a significant 22.8% increase year-over-year [5]. - The average forecast for 'Geographic Revenue- Rest of the world' is $216.47 million, suggesting a 17.2% year-over-year change [5]. Profit Estimates - Expected 'Non-GAAP Gross profit- Subscription services' is projected at $262.34 million, up from $215.21 million in the same quarter last year [6]. - The estimated 'Non-GAAP Gross profit- Product' is $288.77 million, compared to $285.93 million from the previous year [6]. Stock Performance - Shares of Pure Storage have increased by 5.7% over the past month, outperforming the Zacks S&P 500 composite, which rose by 1.5% [6]. - With a Zacks Rank of 3 (Hold), PSTG is expected to perform in line with the overall market in the near future [6].

Pure Storage, Inc (PSTG) is scheduled to report second-quarter fiscal 2025 results on Aug 28. PSTG expects revenues to be $755 million for the quarter, implying an increase of 9.6% from the year-ago figure. The Zacks Consensus Estimate is pegged at $756.6 million, indicating an improvement of 9.9% from the prior-year level. The Zacks Consensus Estimate for earnings is pegged at 38 cents per share, implying a rise of 11.8% from the prior-year level. PSTG beat on earnings in each of the trailing four quarters ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Pure Storage (PSTG) , which belongs to the Zacks Computer- Storage Devices industry. When looking at the last two reports, this data storage company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 28.28%, on average, in the last two quarters. For the last reported quarter, Pure Storage came out with earnings ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Pure Storage (PSTG) reports results for the quarter ended July 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 28. O ...

In collaboration with industry peers, Pure Storage commits to expanding the capabilities of high performance Ethernet for large-scale AI and HPC initiatives SANTA CLARA, Calif., Aug. 13, 2024 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced that it joined Ultra Ethernet Consortium (UEC), a Linux Foundation initiative dedicated to building a complete, open, and accessible Ethernet-based architecture to acc ...

Pure Storage, Inc's (PSTG) shares have been performing well on the trading front, with a gain of 51.4% year to date compared with the S&P 500 composite's growth 19.2%. Headquartered in Mountain View, CA, Pure Storage provides software-defined all-flash solutions that are uniquely fast and cloud-capable for customers. Its primary offerings are FlashArray and FlashBlade products, which include FlashArray//C, FlashArray//XL, FlashArray File Services, FlashBlade//S and FlashBlade//E. The company offers its prod ...

SANTA CLARA, Calif., Aug. 7, 2024 /PRNewswire/ -- Pure Storage® (NYSE: PSTG), the IT pioneer that delivers the world's most advanced data storage technology and services, today announced it will host a conference call on Wednesday, August 28 at 2:00 p.m. PT to discuss its financial results for the second quarter fiscal year 2025 ended August 4, 2024. This conference call will be held following the release of Pure Storage's financial results. Second Quarter Fiscal 2025 Conference Call Details A live audio br ...