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Featured Earnings Report: Pure Storage (NYSE: PSTG)

Phillip Rigdon

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On Monday, Shares of Pure Storage (NYSE: PSTG) showed the bullish trend with a higher momentum of 1.64% and ended its trading session at $22.92. The company traded total volume of 5,557,462 shares as contrast to its average volume of 3.85M shares. The company has a market value of $5.00B and about 218.16M shares outstanding.

Pure Storage Inc. (PSTG) on Monday stated a loss of $64.30M in its fiscal first quarter. On a per-share basis, the Mountain View, California-based company said it had a loss of 29 cents. Losses, adjusted for stock option expense and amortization costs, were 7 cents per share. The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The data storage company posted revenue of $255.90M in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $251.50M.

For the current quarter ending in August, Pure Storage said it anticipates revenue in the range of $296.0M to $304.0M.

The company anticipates full-year revenue in the range of $1.320B to $1.370B.

The Company offered net profit margin of -19.00% while its gross profit margin was 65.40%. ROE was recorded as -44.70%. The stock, as of recent close, has shown the weekly upbeat performance of 10.51% which was maintained at 44.51% in this year.

I am Phillip Rigdon and I focus on breaking news stories and ensuring we IRN Post offer timely reporting on some of the most recent stories released through market wires about “Technology” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down.

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