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Pure Storage reports 3Q loss

MOUNTAIN VIEW, Calif. (AP) _ Pure Storage Inc. (PSTG) on Tuesday reported a loss of $41.6 million in its fiscal third quarter.

The Mountain View, California-based company said it had a loss of 20 cents per share. Losses, adjusted for stock option expense and non-recurring costs, came to 1 cent per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.

The data storage company posted revenue of $277.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $271.9 million.

For the current quarter ending in January, Pure Storage said it expects revenue in the range of $327 million to $335 million.

The company expects full-year revenue in the range of $1.01 billion to $1.02 billion.

Pure Storage shares have increased 68 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.02, a rise of 35 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PSTG at https://www.zacks.com/ap/PSTG