Why Pure Storage Stock Is Plummeting Today
Pure Storage (NYSE: PSTG) stock is falling in Thursday's trading following the company's recent fourth-quarter report. The company's share price was down 10.9% as of 2:30 p.m. ET.
Pure Storage published its Q4 results after the market closed yesterday and actually posted results that came in better than Wall Street had anticipated. But the company's margins showed signs of weakening, and management's forward guidance disappointed the market.
Pure Storage reported non-GAAP (adjusted) earnings per share of $0.45 on sales of $879.8 million in the fourth quarter. The performance came in significantly better than the average Wall Street analyst estimate, which had called for earnings per share of $0.42 on sales of roughly $869.2 million.
Source Fool.com
