Categories Earnings, Technology

Pure Storage (NYSE: PSTG): Q3 2020 Earnings Snapshot

— Pure Storage (NYSE: PSTG) reported its third-quarter 2020 adjusted earnings of $0.13 per share versus $0.09 per share expected.

— Revenues jumped by 15% to $428.4 million versus $440.07 million expected.

Earnings Update by AlphaStreet

— The quarter yielded industry-leading growth as customers continued to select the company’s modern approach that enables organizations to better utilize their data across both their private and public cloud infrastructures.

— Looking ahead into the fourth quarter, the company expects revenue in the range of $484-496 million. This is below the consensus estimates of $511.77 million.

— For the fourth quarter, the adjusted gross margin is predicted to be 67.5-70.5% and the adjusted operating margin is projected to be 10-14%.

— For the full year 2020, the company lowered revenue outlook to the range of $1.635-1.647 billion from the previous range of $1.645-1.715 billion. The revised forecast is below the Street’s view of $1.68 billion.

— For 2020, the adjusted gross margin is now expected to be 69.2% to 70.1% and the adjusted operating margin is still predicted to be 2.6% to 3.9%.

— Also, the company said Kevan Krysler will join the company as CFO in early December, reporting to Chairman and CEO, Charles Giancarlo. Most recently, Kevan serves as the SVP of Finance and Chief Accounting Officer at VMware.

We’re on Flipboard! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Infographic: Amazon (AMZN) Q4 2024 earnings beat estimates; sales rise 10%

E-commerce giant Amazon.com Inc. (NASDAQ: AMZN) on Thursday reported higher sales and profit for the fourth quarter of 2024. Earnings also beat analysts' estimates. Net sales increased to $187.8 billion

Philip Morris (PM) delivers strong performance in 4Q24 helped by smoke-free strength

Shares of Philip Morris International Inc. (NYSE: PM) jumped 10% on Thursday after the company delivered better-than-expected earnings results for the fourth quarter of 2024 and provided an encouraging outlook

Highlights of Bristol-Myers Squibb’s Q4 2024 earnings report

Biotechnology company Bristol Myers Squibb (NYSE: BMY) reported lower profit for the fourth quarter of 2024, despite an increase in revenue. Net income attributable to shareholders was $72 million or

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top