By Roshan Fernandez

Pure Storage reported a narrower first-quarter loss, driven by higher sales in its subscription services sector.

The Santa Clara, Calif., data-storage company notched a first-quarter loss of $14 million, or 4 cents a share, compared with a loss of $35 million, or 11 cents a share, a year earlier.

Excluding one-time items, per-share earnings were 29 cents, beating the 25 cents per share that analysts were expecting, according to FactSet.

Revenue rose to $778.5 million from $693.5 million a year earlier. Analysts surveyed by FactSet had forecast sales of $770.4 million, on par with the company's previously issued guidance.

Subscription services revenue was up 17% year-over-year, the company said.

For the second quarter, Pure Storage forecast revenue of $845 million, just above the $841.4 million which analysts were expecting.

Full-year guidance is for revenue of $3.52 billion and an expectation for a year-over-year revenue growth rate of 11% remains unchanged.

Pure Storage also said Chief Financial Officer Kevan Krysler will leave after five years with the company.

He will remain in his role until a successor has been named. His departure is not related to any issues stemming from the company's financial statements or accounting policies.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

May 28, 2025 16:31 ET (20:31 GMT)

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