Pure Storage delivers solid Q1, ups outlook

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.