Pure Storage Stock Surges on Big Tech Contract and Strong Earnings
TL;DR Summary
Pure Storage's stock surged over 20% after the company reported better-than-expected third-quarter earnings and announced a significant design win with a top-four hyperscale cloud provider for its DirectFlash technology. The company's adjusted earnings were 50 cents per share on sales of $831 million, surpassing analyst expectations. This hyperscaler win, which could involve tech giants like Amazon or Google, marks a major step in Pure Storage's strategy to replace traditional hard disk drives with flash storage in large-scale data centers.
- Pure Storage Stock Soars 20% After Data Player Beats On Earnings, Touts Hyperscaler Cloud Win Investor's Business Daily
- AI play Pure Storage soars 23% after touting it won a contract with an unnamed big tech company CNBC
- Pure Storage (PSTG) Tops Q3 Earnings and Revenue Estimates Yahoo Finance
- Pure Storage Shares Soar After Strong Q3, Q4 Guidance Above Estimates: Details Benzinga
- Pure Storage Stock Soars. It's Not Because of Earnings. Barron's
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