Bulletin
Investor Alert

Market Pulse Archives

Nov. 21, 2019, 4:36 p.m. EST

Pure Storage stock plunges 23% after earnings miss

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Pure Storage Inc. Cl A (PSTG)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Max A. Cherney

Pure Storage Inc. /zigman2/quotes/207052581/composite PSTG -0.87% shares were crushed in the extended session Thursday, plunging 23% after the company did not meet analyst expectations. The software company reported a fiscal third-quarter net loss of $30 million, or 12 cents a share, versus losses of $28.2 million, which also amounts to 12 cents a share in the year-ago period. Revenue rose to $428.4 million from $372.8 million. Adjusted for stock-based compensation, among other things, earnings were 13 cents a share. Analysts surveyed by FactSet had expected adjusted earnings of 23 cents a share on sales of $440.4 million. For the fiscal fourth quarter, analysts predict adjusted earnings of 23 cents a share on sales of $512 million. The company said it expects fourth-quarter revenue of $484 million to $496 million. Pure Storage stock has gained 24% this year, as the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.45% rose 24%.

/zigman2/quotes/207052581/composite
US : U.S.: NYSE
$ 17.14
-0.15 -0.87%
Volume: 3.40M
July 2, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.54 billion
Rev. per Employee
$647,535
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,130.01
+14.15 +0.45%
Volume: 2.33B
July 2, 2020 5:19p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.