Pure Storage, Inc. (PSTG) Tops Q2 Views
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Pure Storage, Inc. (NYSE: PSTG) reported Q2 non-GAAP EPS was ($0.16), 7 cents better than consensus of ($0.23). GAAP EPS was ($0.31), better than the analyst estimate of ($0.34). Revenue for the quarter came in at $163.2 million versus the consensus estimate of $155.14 million.
Pure Storage, Inc. sees Q3 2017 revenue of $187-195 million, versus the consensus of $190.7 million.
"We are delighted to report another great quarter with record revenue," Pure Storage CEO Scott Dietzen said. "We are very pleased with the growth of the business in the July quarter, driven by solid repeat purchase rates, by partnering with the channel to accelerate our go-to-market, by healthy demand from cloud customers ‒ which accounts for more than 25% of our business ‒ and by growing sales to international customers, who made up 25% of revenue."
In the quarter, Pure began shipping FlashBlade, the company's second major product line.
"While we aren't planning on FlashBlade materially impacting revenue this year," Dietzen said, "we're excited about the expanded range of possibilities that FlashBlade is already offering customers in chip design, genomics and life sciences, big data analytics, software development, Internet of Things, machine learning and film production."
"We continue to execute well against our operating plan," Pure Storage CFO Tim Riitters said. "While driving rapid growth, we also significantly improved operating margin year over year. We nearly doubled our business over the last year, while at the same time cutting our operating losses almost 40%."
For earnings history and earnings-related data on Pure Storage, Inc. (PSTG) click here.
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