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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $964.50 mln | $956.07 mln (18 Analysts) |
Q3 EPS | $0.16 | ||
Q3 Adjusted Operating Income | Beat | $196.20 mln | $190.55 mln (17 Analysts) |
Q3 Adjusted Gross Margin | 74.10% | ||
Q3 Adjusted Operating Margin | 20.30% | ||
Q3 Operating Cash Flow | $116 mln | ||
Q3 Operating Income | $53.90 mln |
*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
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(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.)