BUZZ-Pure Storage surges after forecasting Q4 rev above estimates

Reuters
2024-12-04
BUZZ-Pure Storage surges after forecasting Q4 rev above estimates

** Data storage company Pure Storage's PSTG.N shares rise ~25% to $67.05 in extended trading

** Co sees Q4 revenue of $867 mln, higher than Wall Street expectations of $855.9 mln, according to data compiled by LSEG

** PSTG reports Q3 revenue of $831.1 million, an increase of 9% YoY

** Co's subscription annual recurring revenue jumps 22% in the quarter to $1.6 billion

** On a per share basis, co's quarterly adjusted profit of 50 cents beats estimates of 42 cents

** As of last close, stock up 50% YTD

(Reporting by Manya Saini in Bengaluru)

((Manya.Saini@thomsonreuters.com))

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