Pure Storage (PSTG) noted 3rd-quarter success late Wednesday that defeat estimates on the prime and base traces. PSTG stock rose.
The firm documented altered earnings of 31 cents a share on profits of $676 million. Analysts predicted Pure Storage to report earnings of 25 cents a share on revenue of $672 million.
PSTG inventory climbed 1.8% to 29.70 during immediately after-hours trading on the inventory current market nowadays.
The firm mentioned it expects fourth-quarter profits of $810 million, a little bit below estimates of $813 million.
Pure Storage makes large-pace storage systems for corporations and cloud computing applying all-flash chip technological know-how.
“By sound execution, we shipped robust economical benefits in Q3 by escalating income 20% and escalating our functioning earnings,” Chief Money Officer Kevan Krysler stated in a created assertion with the earnings launch.
Be sure to adhere to Brian Deagon on Twitter at @IBD_BDeagon for a lot more on tech shares, examination and monetary marketplaces.
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