/>
X

Pure Storage surpasses $1B in annual sales

The enterprise storage provider posted better-than-expected fourth quarter financial results.
stephanie-condon
Written by Stephanie Condon, Senior Writer on

Video: Pure Storage: Machine learning is the big use case driving flash adoption

Pure Storage published its fourth quarter financial results Thursday, beating market expectations and setting new milestones.

The enterprise storage provider posted non-GAAP earnings of 13 cents a share. Revenue came to $338.3 million, up 48 percent year-over-year.

Wall Street was looking for earnings of 7 cents a share on revenue of $331.5 million.

For the full 2018 fiscal year, Pure Storage earned $1.023 billion in revenue, up 41 percent year over year.

"This quarter marks an important milestone for Pure surpassing $1 billion in annual sales and achieving non-GAAP profitability," said CEO Charles Giancarlo in a statement. "Momentum in the business is strong as we continue our drive to help customers turn data into intelligence and advantage."

pure-storage.png

The company won around 500 new customers in Q4, including organizations like Jenny Craig, Mid America Pet Food, Portland Trail Blazers, Suzuki Motor of America, and the Texas Rangers. Pure Sorage now has around 4,500 customers.

According to analyst Patrick Moorhead, founder of Moor Insights and Strategy, Pure Storage's strong quarter "can be attributed to the company's focus on high-performance flash, high-performance software integration, and winning in AI workloads, side by side with NVIDIA."

"Pure has a real knack for expanding their revenue footprint after the first purchase, so I directly correlate the number of customer wins with longer-term revenue, not just .one and done,'" he said in a statement.

For Q1 2019, the company is expecting revenue in the range of $246 million to $254 million. For the full fiscal year 2019, it's expecting revenue between $1.310 billion and $1.360 billion.

Related

Donate to kids in need by purchasing this 10TB cloud storage drive for 96% off
replace-this-image.jpg

Donate to kids in need by purchasing this 10TB cloud storage drive for 96% off

Deals
Raspberry Pi: This 'much requested' feature just took a big step forwards
raspberry-pi-sales-jump-heres-why-the-ti-5ed5fa71a07d36782c1e10b3-1-jun-02-2020-7-10-50-poster.jpg

Raspberry Pi: This 'much requested' feature just took a big step forwards

Developer
How to recover deleted files in Windows 10 or 11
sample-image-16-9-red.jpg

How to recover deleted files in Windows 10 or 11

Windows