Pure Storage Inc - Class A

Pure Storage delivered a mixed but largely constructive fiscal third quarter, posting revenue of $964.45 million, up 16.1% year-over-year and ahead of the $956.48 million consensus by 0.83%, while non-GAAP diluted EPS of $0.58 came in just short of the $0.58 analyst estimate, a 0.72% miss that nonetheless represented a meaningful step up from $0.50 in the year-ago period. The growth was powered by a surge in product revenue to $534.76 million, reflecting accelerating enterprise demand for AI-era storage infrastructure, while subscription services contributed $429.69 million and subscription ARR climbed 17% to $1.80 billion, underscoring the durability of Pure's recurring revenue base. The company also announced a $400 million share repurchase authorization, signaling confidence in its financial position despite a notable after-hours stock decline on the mixed headline numbers. Management raised full-year FY26 revenue guidance to $3.63 billion to $3.64 billion and lifted non-GAAP operating income expectations to $629 million to $639 million, while guiding Q4 revenue to $1.02 billion to $1.04 billion, reflecting continued conviction in demand momentum heading into year-end.