Pure Storage, Inc. (PSTG) Tops Q1 EPS by 8c, Revs Beat

Pure Storage, Inc. (NYSE: PSTG) reported Q1 EPS of ($0.14), $0.08 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $182.6 million versus the consensus estimate of $177.53 million.

• Quarterly revenue: $182.6 million, up 31% Y-Y, 4% ahead of midpoint of guidance
• Quarterly gross margin: 65.2% GAAP; 66.4% non-GAAP, reflecting strength in our core FlashArray business and a strong performance from our FlashBlade business
• Quarterly operating margin: -34.7% GAAP; -16.7% non-GAAP, up 11.5 ppts and 12.7 ppts Y-Y, respectively
• First shipments of FlashArray//X lead next-gen industry transformation to NVMe

"Pure Storage has built the data platform for the cloud era," said Pure Storage CEO Scott Dietzen. "We are pursuing one of the biggest available markets in tech in supporting new data-driven applications including AI, the rapid adoption of cloud computing and the revamping of the enterprise data center. With our best year of innovation yet, we could not be more excited about the road ahead."

GUIDANCE:

Pure Storage, Inc. sees Q2 2018 revenue of $214-222 million, versus the consensus of $215.4 million.

Pure Storage, Inc. sees FY2018 revenue of $975-1025 million, versus the consensus of $989.73 million.

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

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