Pure Storage Hits All-Time Intraday High After Posting Unexpected Second-Quarter Profit
![Dollar 2947948 1920](/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBN041RGc9PSIsImV4cCI6bnVsbCwicHVyIjoiYmxvYl9pZCJ9fQ==--e5f301bb351133e960f61650f8b4b12b34bc7c11/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2QzNKbGMybDZaVWtpRFRjMU1IZzBOVEJlQmpzR1ZBPT0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--9a8cb233bbd899661209fac1218cb930366c2398/dollar_2947948_1920.jpg)
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
![Banner Default Image](https://www.dclsearch.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBdytMRGc9PSIsImV4cCI6bnVsbCwicHVyIjoiYmxvYl9pZCJ9fQ==--683221fba4088f48e5f9c99e2719b73064c09cee/banner-default.jpg)
Latest Jobs
-
- Network & Security Consultant
- Spain
- Upto €54000 per year and benefits
-
Senior Network & Security Engineer to join a Managed Network & Security Team in Europe. In this critical role, you will: Play a pivotal role in managing and securing network infrastructure across datacenters, customer connections, and on-premise deployments. Proactively monitor network and security devices, analyse incidents, and implement solutions to ensure optimal performance and security. Collaborate with colleagues and customers to troubleshoot issues, troubleshoot outages, and implement effective resolutions. Lead and participate in network system installations for new facilities and expansions. Develop and maintain network infrastructure procedures, recommend technical strategies, and propose improvements to enhance network capabilities. Stay up-to-date on the latest network and security technologies and trends. Work as part of a collaborative international team, contributing to team presentations and knowledge sharing. To be successful, you'll need: Proven expertise in Cisco network solutions (CCNP R&S/Sec/Wireless preferred)for both BAU and project work. In-depth knowledge of network security principles and experience with Fortinet firewalls. Experience deploying and managing large, complex network infrastructure (routing, switching, wireless, security). Solid understanding of ITIL v3 framework for incident, change, and problem management. Excellent troubleshooting skills with experience using Wireshark or similar protocol analysers. Strong communication and teamwork skills, with the ability to work independently and collaborate effectively.
-
- Security Analyst - Internal role. London commutable. £50,000
- London
- £50,000
-
Security Analyst - Internal role. London commutable opportunity. Operational Security - Investigate, escalate and proactively work to ensure household name remains protected. Project Security - Coordinate, log change requests with project delivery teams to meet security requirements Policy / compliance - work with team to aid in uplifting these as and where needed This role is role to investigate, escalate and proactively work to protect a globally recognised brand. You must have current hands on operational analytical security experience with Microsoft technology stack Someone with a SOC Analyst / security engineering background would be well suited. This position will join a small team and would suit someone that has broad experience across the security threat landscape. Experience / knowledge across industry GRC standards such NIST, ISO27001 etc would be advantageous. You will work across multiple teams proactively working to secure the business. Must be able to commute to Central London 3 days a week. Visa sponsorship not available Apply today to find out more.
-
- Network & Security Consultant
- Romania
- €54000 plus benefits
-
Senior Network & Security Engineer to join a Managed Network & Security Team in Europe. In this critical role, you will: Play a pivotal role in managing and securing network infrastructure across datacenters, customer connections, and on-premise deployments. Proactively monitor network and security devices, analyse incidents, and implement solutions to ensure optimal performance and security. Collaborate with colleagues and customers to troubleshoot issues, troubleshoot outages, and implement effective resolutions. Lead and participate in network system installations for new facilities and expansions. Develop and maintain network infrastructure procedures, recommend technical strategies, and propose improvements to enhance network capabilities. Stay up-to-date on the latest network and security technologies and trends. Work as part of a collaborative international team, contributing to team presentations and knowledge sharing. To be successful, you'll need: Proven expertise in Cisco network solutions (CCNP R&S/Sec/Wireless preferred) for both BAU and project work. In-depth knowledge of network security principles and experience with Fortinet firewalls. Experience deploying and managing large, complex network infrastructure (routing, switching, wireless, security). Solid understanding of ITIL v3 framework for incident, change, and problem management. Excellent troubleshooting skills with experience using Wireshark or similar protocol analysers. Strong communication and teamwork skills, with the ability to work independently and collaborate effectively.
-
- Network & Security Consultant
- Hungary
- Upto €54000 per year and benefits
-
Senior Network & Security Engineer to join a Managed Network & Security Team in Europe. In this critical role, you will: Play a pivotal role in managing and securing network infrastructure across datacenters, customer connections, and on-premise deployments. Proactively monitor network and security devices, analyse incidents, and implement solutions to ensure optimal performance and security. Collaborate with colleagues and customers to troubleshoot issues, troubleshoot outages, and implement effective resolutions. Lead and participate in network system installations for new facilities and expansions. Develop and maintain network infrastructure procedures, recommend technical strategies, and propose improvements to enhance network capabilities. Stay up-to-date on the latest network and security technologies and trends. Work as part of a collaborative international team, contributing to team presentations and knowledge sharing. To be successful, you'll need: Proven expertise in Cisco network solutions (CCNP R&S/Sec/Wireless preferred) for both BAU and project work. In-depth knowledge of network security principles and experience with Fortinet firewalls. Experience deploying and managing large, complex network infrastructure (routing, switching, wireless, security). Solid understanding of ITIL v3 framework for incident, change, and problem management. Excellent troubleshooting skills with experience using Wireshark or similar protocol analysers. Strong communication and teamwork skills, with the ability to work independently and collaborate effectively.