Pure Storage shares plunged 15.8% in premarket trading Thursday after it released financial results featuring a full-year forecast falling short of market expectations.
Its second quarter fiscal 2025 financial results surpassed estimates, though. For the quarter ended Aug. 4, Pure Storage reported adjusted earnings per share of $0.44, which was more than the consensus estimate of $0.37. Its total revenue of $763.8M also surpassed the estimate of $756M.
"We delivered strong financial results through the first half of our fiscal year, highlighting the effectiveness of our strategic initiatives," said Pure Storage Chief Financial Officer Kevan Krysler. "Our highly differentiated data storage platform strategy is demonstrating success with our customers."
For the quarter in progress, Pure Storage anticipates revenue of $815M, which is more than the estimate of $812M. However, its expected adjusted operating income of $140M is less than the estimate of $148M. It also expects an adjusted operating margin of 17.2%, which is less than the estimate of 18.2%.
What's more, for the full-year fiscal 2025, which runs from February 2024 through January 2025, Pure Storage expects revenue of $3.1B, which is less than the estimate of $3.14B.
Pure Storage also announced it is accelerating its enterprise AI adoption, and it will be a certified storage solution for Nvidia's ( NVDA ) DGX SuperPOD by the end of the year.
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