Pure Storage reports 3Q loss
MOUNTAIN VIEW, Calif. (AP) _ #PureStorage 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, @PureStorage 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.