Pure Storage reported $763.77 million in revenue for the quarter ended July 2024, representing a year-over-year increase of 10.9%. EPS of $0.44 for the same period compares to $0.34 a year ago.
The reported revenue represents a surprise of +0.95% over the Zacks Consensus Estimate of $756.59 million. With the consensus EPS estimate being $0.38, the EPS surprise was +15.79%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Pure Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Product
: $402.60 million versus $401.79 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.Revenue- Subscription services
: $361.18 million versus the eight-analyst average estimate of $354.80 million. The reported number represents a year-over-year change of +25%.Non-GAAP Gross profit- Subscription services
: $275.83 million compared to the $262.34 million average estimate based on eight analysts.Non-GAAP Gross profit- Product
: $279.85 million versus the eight-analyst average estimate of $288.77 million.
View all Key Company Metrics for Pure Storage here>>>Shares of Pure Storage have returned +8.2% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
View the Zacks #1 Rank List
Image: Bigstock
Pure Storage (PSTG) Reports Q2 Earnings: What Key Metrics Have to Say
Pure Storage reported $763.77 million in revenue for the quarter ended July 2024, representing a year-over-year increase of 10.9%. EPS of $0.44 for the same period compares to $0.34 a year ago.
The reported revenue represents a surprise of +0.95% over the Zacks Consensus Estimate of $756.59 million. With the consensus EPS estimate being $0.38, the EPS surprise was +15.79%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Pure Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Pure Storage here>>>Revenue- Product
: $402.60 million versus $401.79 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.Revenue- Subscription services
: $361.18 million versus the eight-analyst average estimate of $354.80 million. The reported number represents a year-over-year change of +25%.Non-GAAP Gross profit- Subscription services
: $275.83 million compared to the $262.34 million average estimate based on eight analysts.Non-GAAP Gross profit- Product
: $279.85 million versus the eight-analyst average estimate of $288.77 million.Shares of Pure Storage have returned +8.2% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.