Overview

• Pure Storage fiscal Q3 revenue grows 16% yr/yr, slightly beating analyst expectations

• Adjusted operating income for fiscal Q3 beats analyst estimates

• Company raises full-year revenue and operating profit guidance

Outlook

• Company raises FY26 revenue guidance to $3.63 bln-$3.64 bln

• Pure Storage expects Q4FY26 revenue of $1.02 bln-$1.04 bln

• Company forecasts FY26 non-GAAP operating income of $629 mln-$639 mln

Result Drivers

• CLOUD EXPANSION - Co expanded Enterprise Data Cloud into public cloud with Pure Storage Cloud Azure Native, enhancing competitive position

• SUBSCRIPTION REVENUE GROWTH - Subscription services revenue up 14% yr/yr, reflecting strong customer adoption

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the computer hardware peer group is "buy"

• Wall Street's median 12-month price target for Pure Storage Inc is $95.00, about 6.8% above its December 1 closing price of $88.55

• The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 35 three months ago

Press Release: ID:nPnqNgGCa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)