Pure Storage (PSTG) Beats Q1 Earnings and Revenue Estimates

Core Insights - Pure Storage (PSTG) reported quarterly earnings of $0.29 per share, exceeding the Zacks Consensus Estimate of $0.25 per share, but down from $0.32 per share a year ago, representing a 16% earnings surprise [1] - The company achieved revenues of $778.49 million for the quarter ended April 2025, surpassing the Zacks Consensus Estimate by 0.95% and increasing from $693.48 million year-over-year [2] - Pure Storage has consistently surpassed consensus EPS and revenue estimates over the last four quarters [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.39 on revenues of $844.54 million, and for the current fiscal year, it is $1.72 on revenues of $3.51 billion [7] - The estimate revisions trend for Pure Storage is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] Industry Context - The Computer-Storage Devices industry, to which Pure Storage belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, suggesting potential challenges ahead [8] - The performance of Pure Storage's stock may be influenced by the overall outlook for the industry [8]