Pure Storage Inc. Reports Q2 Results

NEW YORK – Pure Storage Inc. (NYSE: PSTG) shares plunged 12.58% in after-hours trading Wednesday, despite reporting better-than-expected second quarter results. The data storage company’s full-year revenue outlook fell slightly short of analyst estimates.

The Santa Clara, California-based company posted adjusted earnings per share of $0.44 for the quarter ended August 4, beating the analyst consensus of $0.37. Revenue grew 11% year-over-year to $763.8 million, surpassing expectations of $756.02 million.

However, Pure Storage’s fiscal 2025 revenue guidance of $3.1 billion came in below Wall Street’s forecast of $3.13 billion, overshadowing the Q2 beat and driving the sharp stock decline.

“We delivered strong financial results through the first half of our fiscal year, highlighting the effectiveness of our strategic initiatives,” said Chief Financial Officer Kevan Krysler in a statement.

For the third quarter, Pure Storage expects revenue of $815 million, slightly above the $810.1 million consensus estimate.

The company’s subscription annual recurring revenue jumped 24% year-over-year to $1.5 billion in Q2. Operating cash flow was $226.6 million, while free cash flow reached $166.6 million.

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