Pure Storage, Inc. (NYSE:PSTG) shares are trading higher Thursday after the company posted better-than-expected fourth-quarter results and issued first-quarter revenue guidance above estimates.
The Details:
The company reported quarterly adjusted earnings of 50 cents, beating the consensus estimate of 44 cents. Quarterly sales clocked in at $789.8 million, above the analyst consensus estimate of $782.31 million.
Fourth-quarter subscription services revenue came in at $328.9 million, up 24% year-over-year, and fourth-quarter operating margin was 20%.
“We closed FY24 delivering strong RPO growth, and exceeded our revenue and operating margin guidance in Q4,” said Kevan Krysler, CFO of Pure Storage.
“Looking to FY25, we expect double-digit revenue growth and strong growth of RPO, fueled by our highly differentiated data storage platform, and strength of our Evergreen and Portworx consumption and subscription offerings,” Krysler added.
Pure Storage expects revenue of $680 million in the first quarter, versus the estimate of $667.299 million.
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