Pure Storage Hits All-Time Intraday High After Posting Unexpected Second-Quarter Profit
Pure Storage shares soared as much as 19 percent Wednesday after the data center hardware company reported an unexpected profit for its fiscal second quarter.
The stock rose as high as $26.30 in midday trading, hitting a new all-time intraday high before paring gains slightly. The stock closed at $25.15 — it's second-best closing price since going public. The stock has doubled in the last 12 months.
Here are the key numbers from the company's earnings report Tuesday:
- Earnings: 1 cent per share, excluding certain items, vs. loss of 6 cents per share as expected by analysts, according to Thomson Reuters.
- Revenue: $308.9 million, vs. $301 million as expected by analysts, according to Thomson Reuters.
Revenue climbed 37 from a year earlier, the company said in a statement. Executives are pleased with progress in the cloud, health care and financial services markets, president David Hatfield told analysts on a conference call.
It's the first time Pure Storage has reported a profitable second quarter, according to JMP Securities analysts.
"We believe the beat in gross margin was the primary driver behind the beat in operating margin," JMP said in a note. "We also think that customers are increasingly recognizing the unique value of Pure's offering, which allows the company to charge a premium price for its products."
Also on Tuesday, Pure said it acquired storage software vendor StorReduce. Terms of the deal weren't disclosed. Pure intends to extend StorReduce's partnership with cloud infrastructure providers, executives said on the call.
In terms of guidance, Pure said it expects a gross margin, excluding certain items, of 64.5 percent to 67.5 percent for the third quarter, on revenue of $361 to 369 million. Analysts project a gross margin of 65.8 percent, according to FactSet, and revenue of $363 million, according to Thomson Reuters.
Pure's gross margin guidance for the whole fiscal year came in at 65.5 percent to 67.5 percent, excluding certain items, above the 65.9 percent FactSet estimate. Meanwhile, revenue guidance for the full fiscal year was $1.35 billion to $1.38 billion, while analysts had been looking for $1.36 billion, according to Thomson Reuters.
The company went public in 2015 and faces competition from companies including Dell EMC, Hewlett Packard Enterprise, IBM and NetApp.
"Dell, you know, I think has changed the culture a bit at EMC," Pure's vice president of strategy, Matt Kixmoeller, said. "We see a lot of those folks leaving, many of them are leaving to partners of ours. So they've got deep domain knowledge and they – you know they've been beat by us quite a bit."
Source: cnbc
Latest Jobs
-
- Google Cloud Data Engineer
- London
- Up to £90,000 Base
-
Google Cloud Data Engineer London Salary: Up to £90,000 Base We are currently working with a leading Google Cloud partner who are currently looking for a Google Cloud Data Engineer in London. The Google Cloud Data Engineer will be responsible for projects designing and implementing data cataloguing platforms using Google Cloud. Current Experience Required: Google Cloud (MUST be Google Cloud Professional Engineer Certified and worked on recent GCP/Google Cloud Projects). Data Analytics (Data Engineering, Data Mining, Data Cataloguing etc.) Cloud PUB / SUB Candidates must be UK based and commutable to London. Candidates outside of the EU can not be sponsored Apply for more information or call Peter Georgiou on 02086634030. Ref: PG7692
-
- Microsoft Azure Sales Consultant
- London
- Up to £100,000 Base + OTE
-
DCL are currently working on behalf one of the fastest growing service providers in London who are on the lookout for a consultative Microsoft Azure Sales Consultant. The Microsoft Azure Sales Consultant will be responsible for selling (opening and closing new business opportunities new business) and being the SME in all things Cloud providing support to other members in the sales team. Preference will be given to the Microsoft Azure Sales Consultant who possesses Exceptional knowledge of Cloud Technology (Public / Private / Hybrid.). Current experience with technology such as Azure, AWS, Office 365 is required Proven sales experience of identifying and closing new business within the Cloud market. Must be currently selling into the enterprise market. Consistency on tenure in current and past roles. New business background is a must In return you will be working for a successful, growing SME organisation with excellent training and sales support from pre-sales, post-sales, project management, service management, bid management, pricing and customer service. Candidates must be UK Based. sponsorship can not be provided for this role. Reference Number: BD7690 (Cloud Sales Jobs, Cloud Computing Jobs, Cloud Computing Sales)
-
- Senior Incident Cyber Response Consultant
- London
- Up to £75,000 Base
-
Senior Incident Cyber Response Consultant with Forensic experience is needed to join a global consultancy whose cyber business unit are continuing to their investment in the growth of their team. From my perspective, as a recruitment partner, this is a particularly interesting and exciting opportunity. Not only is the team in an active growth mode, but they have varied, high profile and interesting projects for their team. Globally recognised. This is an opportunity to drive and grow a career. Experienced Senior Incident Cyber Response Consultant is needed to help take clients through the complete IR / triage process. The position is be client facing and will be expected to engage with clients at a commercial level. Proactive IR planning is also key to the position. The Senior Incident Cyber Response Consultant will not hold a sales target, but any previous experience in identifying and generating revenue is highly sort after. A broad forensic background would be highly desirable also. An ideal Senior Incident Cyber Response Consultant will be CREST CCIR, CCIM certified. Experience with forensics is highly desirable. Any of the following are very desirable also CREST Certified Network Intrusion Analyst (CCNIA) CREST Certified Host Intrusion Analyst (CCHIA) CREST Certified Malware Reverse Engineer (CCMRE) CREST Practitioner Intrusion Analyst (CPIA) An individual must be London commutable Key attributes should also include; stakeholder engagement, mentoring of team members, a collaborative working style. Technical experience must include; demonstrable experience within cyber incident response, Forensic, cyber etc. Additional certifications could / should include GIAC certified (Intrusion analyst, incident handler, forensic handler) The opportunity for an individual to conduct malware research and analysis is actively promoted. Career development and the opportunity to influence, apply today for more information or call Chris Holt on 07884666351 or 02086634030 or email chris.holt@dclsearch.com Unfortunately, our client are unable to provide sponsorship for this opportunity. Candidates must be UK based. Ref: CH7679 (Incident Response Jobs, CREST Jobs, Digital Forensics Jobs, IR Jobs)
-
- Principal Electrical Engineer
- London
- Salary: Up to £90,000 Base + Bonus
-
Principal Electrical Engineer Location: London Salary: Up to £90,000 Base + Bonus A Principal Electrical Engineer is needed for a state of the art, London based Data Centre provider. The Principal Electrical Engineer will be responsible for all of the Mechanical & Electrical components (support, development/design etc.) within our clients Data Centre’s. Other responsibilities include but not limited to; Commissioning, approving, design & review/improvement of new data centre infrastructure Commercial’s (Contract negotiation, project finances etc.) Project management Training/Development of other staff General engineering tasks Requirements HND / Degree in Engineering or equivalent. Must have current/recent experience (ideally in a senior position) within a mechanical & electrical position within a Data Centre environment Candidates must be UK based and unfortunately, our client are unable to provide sponsorship Ref: PG7600 (M&E Jobs, Mechanical & Electrical Jobs, Engineering Jobs, Data Centre Jobs, Data Center Jobs)