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Pure Storage Soars as Q3 Sales Prompt Another Revised Guidance -Breaking

by Mike Robinson

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© Reuters.

By Dhirendra Tripathi

Investing.com – Pure Storage stock (NYSE:) climbed 14% Wednesday as the company’s third-quarter revenue jumped 37% from the same time last year to help the company raise its guidance again.

The company that provides storage as-a-service in a multi-cloud world now expects revenue to be $2.1 billion for the current financial year ending January 31, up around 25% from last year’s $1.68 billion. The company forecasted that current year revenue would be $2.04 Billion in August.

With more than 9500 customers, new customer additions increased by roughly 12% during the third quarter.

In the current quarter, subscriptions generated $788 million of annual revenue, an increase of 30%. The Subscription ARR refers to total annualized subscription value for all active subscription agreements as of the end of each quarter.

The remaining performance obligations (a measure that provides insight into revenue potential) rose 27% to $1.24 Billion.

The adjusted profit per share was 22cs on $563 million in third quarter revenue, which is well above estimates.

 

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