By Davit Kirakosyan

Pure Storage Inc . (NYSE:) shares rose greater than 8% after-hours following the corporate’s reported Q1 outcomes, with EPS of $0.25 coming in higher than the consensus estimate of $0.04.

50% year-over-year to $620.4 million, in comparison with the consensus estimate of $522.88 million. Subscription providers income grew 35% year-over-year to $219.2 million, and Subscription Annual Recurring Income (ARR) grew 29% year-over-year to $899.8 million.

The corporate expects Q2/23 income of $635 million, above the consensus estimate of $606.28 million. For the total 2023-year, the corporate expects income of $2.66 billion, in comparison with the consensus estimate of $2.59 billion.