What happened
Shares of enterprise data storage platform Pure Storage (PSTG 3.10%) jumped this week. By the end of the week, shares had risen about 23%.
The stock's gain was driven almost entirely by the company's stronger-than-expected fiscal second-quarter results.
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So what
The tech company reported fiscal second-quarter revenue of $497 million, up 23% year over year. Analysts on average were expecting revenue of $469 million. Adjusted earnings per share also beat analysts' consensus forecast; the key adjusted profitability metric came in at $0.06, while analysts were modeling for $0.05.
"Our outstanding financial performance this quarter reflected strong sales execution and our long-standing practice of providing leading edge solutions and best-in-class services to our customers," CFO Kevan Krysler said in the company's earnings release.
Now what
Guidance was better than expected, too. The company said it expects fiscal third-quarter and full-year 2022 revenue of $530 million and $2.04 billion, respectively. Analysts, on average, expected revenue of $495 million and $1.96 billion, respectively, for these periods.
