Pure Storage Inc. (NYSE:PSTG) released its second-quarter results after Wednesday's closing bell. Here's a look at the key figures from the quarter.
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The Details: Pure Storage reported quarterly earnings of 43 cents per share, which beat the analyst estimate of 39 cents.
Quarterly revenue came in at $861 million, which beat the Street estimate of $846.82 million and is up from revenue of $763.77 million from the prior year’s quarter.
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Pure Storage reported the following second quarter highlights:
- Subscription services revenue $414.7 million, up 15% year-over-year
- Subscription annual recurring revenue (ARR) $1.8 billion, up 18% year-over-year
- Remaining performance obligations (RPO) $2.8 billion, up 22% year-over-year
- Non-GAAP gross margin 72.1%
- Non-GAAP operating income $130 million
“Our strong second quarter results demonstrate ever more customers’ confidence in the value of the Pure Storage platform to advance their data storage and management now and into the future,” said Pure Storage CEO Charles Giancarlo.
Outlook: Pure Storage sees third-quarter revenue in a range of $950 million to $960 million, versus the $913.17 million analyst estimate, and raised its fiscal 2025 revenue outlook to a range of $3.6 billion to $3.63 billion, versus the $3.52 billion estimate.
PSTG Stock Price: According to data from Benzinga Pro, Pure Storage stock was up 14.20% at $69.50 in Wednesday's extended trading.
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