Pure Storage announced after the bell… shares up 10%+ after hours on essentially a beat/beat/raise.
Q1 EPS of -$0.14 (improves from -$0.21 Y/Y) beats by $0.08.
Revenue of $182.6M (+30.5% Y/Y) beats by $5.07M.
So they have managed to generate 30% growth - that’s lower than NTAP’s triple digit growth in all flash arrays but NTAP’s growth is diluted with the cannibalisation of its mature business meaning that its revenue growth is only single digits (5%) once all is combined. Pure are demonstrating signs of operating leverage with loss reduction and margin improvement on non-GAAP basis.
https://seekingalpha.com/pr/16843360-pure-storage-announces-…
https://seekingalpha.com/article/4076314-pure-storages-pstg-…
NTAP comparison:-
https://seekingalpha.com/pr/16843356-netapp-reports-fourth-q…
https://seekingalpha.com/news/3269701-netapp-3_4-percent-q4-…
Ant