Pure Storage rises on Q1 beat, upbeat forecast

Everpure

29/05/2024 21:54

** Shares of data storage firm Pure Storage  PSTG.N  rise
7.3% to $67.6 in after-hours trading
    ** Co posts Q1 revenue of $693.5 mln, up 18%, above analyst
estimates of $681 mln, per LSEG data; on an adj. basis, posted
earnings of 32 cents/share, compared to estimates of 21 cents
    ** Expects revenue of $755 mln in Q3, also above estimates
of $750.3 mln 
    ** PSTG sees FY25 revenue of $3.1 bln, in line with
estimates
    ** 16 of 20 brokerages rate the stock "buy" or higher, 4
"hold"; their median PT is $59.4- LSEG
    ** Stock has risen 76.7% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))