Pure Storage (PSTG) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended October 2024, Pure Storage (PSTG) reported revenue of $831.07 million, up 8.9% over the same period last year. EPS came in at $0.50, compared to $0.50 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $814.77 million, representing a surprise of +2.00%. The company delivered an EPS surprise of +16.28%, with the consensus EPS estimate being $0.43.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
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Revenue- Product: $454.74 million versus $439.56 million estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +0.3% change.
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Revenue- Subscription services: $376.34 million compared to the $375.38 million average estimate based on nine analysts. The reported number represents a change of +21.6% year over year.
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Non-GAAP Gross profit- Subscription services: $291.33 million versus $281.61 million estimated by nine analysts on average.
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Non-GAAP Gross profit- Product: $306.39 million compared to the $304.21 million average estimate based on nine analysts.
View all Key Company Metrics for Pure Storage here>>>
Shares of Pure Storage have returned +6.7% over the past month versus the Zacks S&P 500 composite's +5.8% 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