Pure Storage Inc. reported strong Q1 fiscal 2027 results, with revenue exceeding expectations. However, the stock declined after the earnings release.
Total revenue reached $1.053 billion, up 35% year-over-year. Product revenue surged 55%, while subscription services revenue grew 17%. Operating profit more than doubled to $159 million.
Despite strong results, the stock fell 2.95% in after-hours trading to $88.35. The company's P/E ratio stands at 156.75.
For Q2, Pure Storage expects revenue between $1.095 billion and $1.105 billion. Full-year guidance was raised to $4.41-$4.51 billion.
