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Pure Storage (PSTG) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended April 2024, Pure Storage (PSTG - Free Report) reported revenue of $693.48 million, up 17.7% over the same period last year. EPS came in at $0.32, compared to $0.08 in the year-ago quarter.
The reported revenue represents a surprise of +1.78% over the Zacks Consensus Estimate of $681.37 million. With the consensus EPS estimate being $0.22, the EPS surprise was +45.45%.
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: $347.38 million compared to the $329.82 million average estimate based on eight analysts. The reported number represents a change of +12.4% year over year.
Revenue- Subscription services: $346.10 million versus $348.73 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +23.5% change.
Non-GAAP Gross profit- Subscription services: $259.12 million versus $257.88 million estimated by seven analysts on average.
Non-GAAP Gross profit- Product: $253.04 million versus $237.45 million estimated by seven analysts on average.
Shares of Pure Storage have returned +24.1% over the past month versus the Zacks S&P 500 composite's +4.3% 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.
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Pure Storage (PSTG) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended April 2024, Pure Storage (PSTG - Free Report) reported revenue of $693.48 million, up 17.7% over the same period last year. EPS came in at $0.32, compared to $0.08 in the year-ago quarter.
The reported revenue represents a surprise of +1.78% over the Zacks Consensus Estimate of $681.37 million. With the consensus EPS estimate being $0.22, the EPS surprise was +45.45%.
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: $347.38 million compared to the $329.82 million average estimate based on eight analysts. The reported number represents a change of +12.4% year over year.
- Revenue- Subscription services: $346.10 million versus $348.73 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +23.5% change.
- Non-GAAP Gross profit- Subscription services: $259.12 million versus $257.88 million estimated by seven analysts on average.
- Non-GAAP Gross profit- Product: $253.04 million versus $237.45 million estimated by seven analysts on average.
View all Key Company Metrics for Pure Storage here>>>Shares of Pure Storage have returned +24.1% over the past month versus the Zacks S&P 500 composite's +4.3% 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.