Countdown to Pure Storage (PSTG) Q1 Earnings: A Look at Estimates Beyond Revenue and EPS

Wall Street analysts expect Pure Storage (PSTG) to post quarterly earnings of $0.22 per share in its upcoming report, which indicates a year-over-year increase of 175%. Revenues are expected to be $681.37 million, up 15.6% from the year-ago quarter.

Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

That said, let's delve into the average estimates of some Pure Storage metrics that Wall Street analysts commonly model and monitor.

The consensus estimate for 'Revenue- Product' stands at $329.82 million. The estimate suggests a change of +6.8% year over year.

It is projected by analysts that the 'Revenue- Subscription services' will reach $348.73 million. The estimate points to a change of +24.4% from the year-ago quarter.

Analysts expect 'Geographic Revenue- United States' to come in at $486.58 million. The estimate indicates a change of +4.7% from the prior-year quarter.

The consensus among analysts is that 'Geographic Revenue- Rest of the world' will reach $193.24 million. The estimate indicates a year-over-year change of +24%.

The average prediction of analysts places 'Non-GAAP Gross profit- Subscription services' at $257.88 million. The estimate compares to the year-ago value of $206.60 million.

The combined assessment of analysts suggests that 'Non-GAAP Gross profit- Product' will likely reach $237.45 million. The estimate is in contrast to the year-ago figure of $218.86 million.

View all Key Company Metrics for Pure Storage here>>>

Over the past month, shares of Pure Storage have returned +19.1% versus the Zacks S&P 500 composite's +6.1% change. Currently, PSTG carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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