Pure Storage delivers solid Q1, ups outlook

The company added 300 customers this quarter for a total of 4,800.

Pure Storage: Machine learning is the big use case driving flash adoption Advancements in storage have contributed to the progression of AI, even though it's still early days.

Pure Storage added 300 new customers in its fiscal first quarter and revenue popped 40 percent.

The flash system storage company reported a first quarter net loss of $64.3 million, or 29 cents a share, on revenue of $255.9 billion. The non-GAAP loss for the quarter ending April 30 was 7 cents a share.

Analysts were expecting a non-GAAP loss of 12 cents a share on revenue of $251 million.

As for the outlook, Pure Storage raised its sales outlook relative to estimates. The company said second quarter sales will be $296 million to $304 million. For fiscal 2019, Pure projected sales between $1.32 billion to $1.37 billion.

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