Overview
- Pure Storage posted Q3 earnings of $0.58 per share in line with estimates and revenue of $964.45 million, topping expectations and rising 16% year over year.
- The company raised its fiscal 2026 revenue outlook to $3.63 billion to $3.64 billion and guided Q4 sales to $1.02 billion to $1.04 billion, implying roughly 16.5% to 17.6% growth.
- Subscription services revenue reached $429.7 million, up 14% year over year, with subscription ARR at $1.8 billion, up 17%, and RPO at $2.9 billion, up 24%.
- Shares fell about 27% to $68.93 on Dec. 3 after sliding in extended trading following the results.
- Analysts updated views with mixed target changes, including Citigroup Buy at $105 (from $110), Lake Street Buy at $92 (from $80), Barclays Equal-Weight at $77 (from $70), Wedbush Outperform at $100 (from $90), and JPMorgan Overweight at $105 (from $110).