Pure Storage Inc. (NYSE:PSTG) stock dropped in Tuesday's extended trading after the company released its third quarter earnings report.
Here's a look at the details in the report.
- PSTG stock is moving. Watch the price action here.
The Details: Pure Storage reported quarterly earnings of 58 cents per share, which met the consensus estimate, according to Benzinga Pro data.
Quarterly revenue came in at $964.45 million, which beat the analyst estimate of $956.14 million.
Pure Storage reported the following third-quarter highlights:
- Subscription services revenue $429.7 million, up 14% year-over-year
- Subscription annual recurring revenue (ARR) $1.8 billion, up 17% year-over-year
- Remaining performance obligations (RPO) $2.9 billion, up 24% year-over-year
“Pure Storage delivered another strong quarter as global customers increasingly choose Pure to solve their toughest data management challenges,” said Charles Giancarlo, Pure Storage CEO.
“Competitive advantage in the AI era demands data accessibility. Pure’s Enterprise Data Cloud breaks data free from application silos, allowing enterprises to harness the power of AI, automation and analytics,” Giancarlo added.
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Outlook: Pure Storage raised its fiscal 2026 revenue guidance to between $3.63 billion and $3.64 billion, versus the $3.62 billion estimate.
PSTG Stock Price: According to data from Benzinga Pro, Pure Storage stock fell 8.52% to $86.65 in Tuesday's extended trading.
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