Aug 28, 02:09 PM

Pure Storage Soars to Record as Meta Deal Lifts Earnings and 2026 Outlook

Pure Storage reported stronger-than-expected fiscal second-quarter results and lifted its full-year outlook, citing early revenue from a multiyear contract to supply storage systems to Meta Platforms. Revenue for the quarter ended Aug. 4 rose 13% to $861 million, topping the $846 million analysts expected, while adjusted earnings increased to $0.43 a share versus a $0.39 consensus. The company now forecasts fiscal 2026 revenue of $3.60 billion to $3.63 billion, up from its prior $3.52 billion projection, and said third-quarter sales should reach $950 million to $960 million, far above Wall Street’s $913 million estimate. Management told analysts the Meta rollout is “on time and on target” and that up to two exabytes of capacity could be installed by year-end, drawing interest from other hyperscale customers. Investors cheered the beat-and-raise quarter; Pure Storage shares surged more than 30% on Aug. 28 to an all-time high, lifting the company’s market value to roughly $26 billion.

#Pure Storage #Meta Platforms #Wall Street #Meta

Written with ChatGPT .

Pure Storage Soars to Record as Meta Deal Lifts Earnings and 2026 Outlook

Sources

Additional media

Similar Stories

Similar Stories