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Why Pure Storage Stock Slumped Today

TheMotleyFool

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Shares of Pure Storage (NYSE: PSTG) sank on Wednesday after the data storage company reported its second-quarter results. While the company beat analyst estimates across the board, it wasn't enough to impress investors. Pure Storage stock was down about 10% at 12:45 p.m. EDT.

The company reported second-quarter revenue of $403.7 million, up 2% year over year and about $8.4 million above the average analyst estimate. Revenue from subscription services came in at $131.4 million, up 37% from the prior-year period.

Image source: Getty Images.

Source Fool.com

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