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Storage Last Quarter Financials: Sales Growth Falls, With Few Exceptions

Of the top publicly-listed storage vendors, all-flash storage vendor Pure Storage was once again showed its peers what growth is, followed by good growth for Carbonite and an uptick for HPE.

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Pure Storage 1Q'20: $326.7 million, up 28% YoY

All-flash storage technology developer on May 22 posted first fiscal quarter 2020 revenue and earnings that fell short of investor expectations. However, the Mountain View, Calif.-based company said it is investing in the technology and the sales force it needs to get back to growth.

For its first fiscal quarter 2020, which ended April 30, Pure Storage reported revenue of $326.7 million, up 28 percent over the $255.9 million the company reported for the first fiscal quarter 2019. However, that missed analyst expectations of about $333 million, as reported by Seeking Alpha. All of Pure Storage's revenue is considered storage revenue. 

That included product revenue of $238.7 million, up from last year's $195.4 million, and support subscription revenue of $88.0 million, up from last year's $60.5 million.

The company posted a GAAP loss of $100.3 million, or 41 cents per share, which was much higher than the $36.0 million, or 12 cents per share, the company reported last year. On a non-GAAP basis, the loss was $27.6 million, or 11 cents per share, compared with last year's loss of $16.2 million, or 7 cents per share.

Analysts had been expecting a GAAP loss of 32 cents per share and a non-GAAP loss of 8 cents per share, according to Seeking Alpha.

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