Here's What Key Metrics Tell Us About Pure Storage (PSTG) Q4 Earnings
For the quarter ended January 2024, Pure Storage (PSTG) reported revenue of $789.81 million, down 2.5% over the same period last year. EPS came in at $0.50, compared to $0.53 in the year-ago quarter.
The reported revenue represents a surprise of +0.97% over the Zacks Consensus Estimate of $782.23 million. With the consensus EPS estimate being $0.45, the EPS surprise was +11.11%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Pure Storage performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Product: $460.89 million compared to the $465.52 million average estimate based on eight analysts. The reported number represents a change of -15.5% year over year.
Revenue- Subscription services: $328.91 million versus the eight-analyst average estimate of $320.50 million. The reported number represents a year-over-year change of +24.1%.
Non-GAAP Gross profit- Subscription services: $243.78 million compared to the $238.88 million average estimate based on eight analysts.
Non-GAAP Gross profit- Product: $338.20 million compared to the $335.05 million average estimate based on eight analysts.
View all Key Company Metrics for Pure Storage here>>>
Shares of Pure Storage have returned +0.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Pure Storage, Inc. (PSTG) : Free Stock Analysis Report
