Pure Storage, Inc. (NYSE: PSTG) reported Q2 EPS of $0.06, $0.06 better than the analyst estimate of $0.00. Revenue for the quarter came in at $403.72 million versus the consensus estimate of $395.34 million.

Guidance:

Through the first half of the year Pure has delivered solid results through execution, focus, and operating discipline. The core fundamentals of Pure's business are strong, however, the significant global economic contraction caused by COVID-19 continues to create variability. Therefore, consistent with the prior quarter Pure is not providing formal guidance.

Pure's current view of fiscal Q3 outcomes, which should not be viewed as guidance, is that total revenue will be approximately flat sequentially. In Q3, we expect recurring revenue and sales of our Evergreen and unified subscription services will continue to show strong growth. The company continues to exercise solid operating discipline throughout the organization and estimates that operating margin during Q3 will be slightly below break even, near negative 2%.

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