Why Pure Storage Stock Slipped on Thursday
Data storage specialist Pure Storage (NYSE: PSTG) wasn't in the good graces of the stock market on Thursday. After its latest set of quarterly earnings were published the previous afternoon, investors traded out of the shares to leave them with a nearly 3% decline to close Thursday. That was in contrast to a relatively bouncy S&P 500 (SNPINDEX: ^GSPC), which closed up by 0.4%.In the first quarter of its fiscal 2026, Pure Storage booked revenue of just under $779 million, for a 12% year-over-year improvement. Other sales metrics also headed north at double-digit rates -- subscription services revenue rose by 17% to exceed $406 million, while subscription annual recurring revenue (ARR) advanced 18% to $1.7 billion.Image source: Getty Images.Continue reading
Data storage specialist Pure Storage (NYSE: PSTG) wasn't in the good graces of the stock market on Thursday. After its latest set of quarterly earnings were published the previous afternoon, investors traded out of the shares to leave them with a nearly 3% decline to close Thursday. That was in contrast to a relatively bouncy S&P 500 (SNPINDEX: ^GSPC), which closed up by 0.4%.
In the first quarter of its fiscal 2026, Pure Storage booked revenue of just under $779 million, for a 12% year-over-year improvement. Other sales metrics also headed north at double-digit rates -- subscription services revenue rose by 17% to exceed $406 million, while subscription annual recurring revenue (ARR) advanced 18% to $1.7 billion.
Image source: Getty Images.
