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Pure Storage reports 4Q loss

MOUNTAIN VIEW, Calif. (AP) _ Pure Storage Inc. (PSTG) on Wednesday reported a loss of $42.9 million in its fiscal fourth quarter.

On a per-share basis, the Mountain View, California-based company said it had a loss of 21 cents. Losses, adjusted for stock option expense, were 2 cents per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.

The data storage company posted revenue of $227.9 million in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $223.9 million.

For the year, the company reported that its loss widened to $245.1 million, or $1.26 per share. Revenue was reported as $728 million.

For the current quarter ending in May, Pure Storage said it expects revenue in the range of $171 million to $179 million.

The company expects full-year revenue in the range of $975 million to $1.02 billion.

Pure Storage shares have increased slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.33, a drop of 24 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


Keywords: Pure Storage, Earnings Report