What's In The Offing For Pure Storage (PSTG) In Q1 Earnings?
Zacks Investment Research | May 15, 2019 08:43AM ET
Pure Storage Inc. (NYSE:PSTG) is set to release first-quarter fiscal 2020 earnings on May 21. Notably, the company beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters, with an average positive surprise of 45.9%.
Past-Quarter Performance
In the last reported quarter, Pure Storage reported non-GAAP earnings of 14 cents per share, missing the Zacks Consensus Estimate of 18 cents. However, the figure increased on a year-over-year basis.
Although total revenues surged 24% from the year-ago quarter to $422.2 million, it lagged the Zacks Consensus Estimate of $443 million.
What to Expect in Q1?
Pure Storage expects revenues of $327-$339 million in first-quarter fiscal 2020. The Zacks Consensus Estimate for revenues is pegged at $333.8 million, indicating growth of approximately 30.4% from the year-ago quarter.
We note that the Zacks Consensus Estimate for earnings has remained unchanged in the past week. The Zacks Consensus Estimate for the quarter under review is pegged at a loss of 8 cents per share, suggesting a decline of approximately 14.3% from the year-ago quarter’s tally.
Notably, shares of Pure Storage have returned 31.6% on a year-to-date basis, substantially outperforming the Original post
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