Pure Storage Shares Soar 30% On Q2 Beat And Raised Full-Year Forecast

Pure Storage Inc. (NYSE:PSTG) shares surged 30% Thursday after the data storage company delivered stronger-than-expected fiscal second-quarter results and lifted its full-year guidance.

The company reported adjusted EPS of $0.43, exceeding consensus of $0.39. Revenue reached $861 million, above expectations of $846.2 million and up 13% year-over-year. Subscription services revenue increased 15% to $414.7 million.

For the third quarter, Pure Storage guided revenue of $950 million to $960 million, well above the $913.1 million consensus. The company also raised its full-year revenue outlook to $3.60 billion to $3.63 billion, compared with its prior forecast of $3.515 billion and the Street estimate of $3.52 billion.