UPDATE: Pure Storage, Inc. (PSTG) Beats Q1 EPS by 1c

(corrects non-GAAP EPS amount)

Pure Storage, Inc. (NYSE: PSTG) reported Q1 EPS of ($0.22), 1 cent better than the analyst estimate of ($0.23). Revenue for the quarter came in at $139.9 million versus the consensus estimate of $138.13 million.

"We are pleased to report another strong quarter," said Scott Dietzen, CEO of Pure Storage. "Year over year, our revenue growth continues to dramatically outpace both our storage industry competitors and the broader enterprise technology sector. While the legacy players retool complex, 20-year-old products to compete, customers continue to be attracted to Pure's simplicity and superior customer experience across flash-optimized software, hardware, our Evergreen business model and cloud management."

"Pure delivered robust April quarter results, with better-than-expected revenue and improving margin performance year over year," said Tim Riitters, CFO of Pure Storage. "We continue to expect to reach sustained positive cash flow by the second half of calendar year 2017."

GUIDANCE:

Pure Storage, Inc. sees Q2 2017 revenue of $153-157 million, versus the consensus of $153.83 million.

For earnings history and earnings-related data on Pure Storage, Inc. (PSTG) click here.

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