Pure Storage: Fiscal 1Q Earnings Snapshot
Posted May 28, 2020 04:18:29 PM.
Last Updated May 28, 2020 04:30:26 PM.
MOUNTAIN VIEW, Calif. (AP) _ Pure Storage Inc. (PSTG) on Thursday reported a loss of $90.6 million in its fiscal first quarter.
On a per-share basis, the Mountain View, California-based company said it had a loss of 34 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 2 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 16 cents per share.
The data storage company posted revenue of $367.1 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $341.5 million.
Pure Storage shares have dropped roughly 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.83, an increase of nearly 6% 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
The Associated Press
