Pure Storage Q2 revenue up 6.5% to $688.7 million; GAAP operating loss of $6.2 million
Pure Storage reported fiscal second-quarter 2024 revenue of $688.7 million, up 6.5% year-over-year, but swung to a GAAP operating loss of $6.2 million and a net loss of $7.1 million, compared with operating income of $14.4 million and net income of $10.9 million a year earlier. The company also raised its annual non-GAAP operating margin guidance to 15.5%, and expects third-quarter revenue of $760 million.
- Revenue $688.7 million, up 6.5% year-over-year; subscription services revenue $288.9 million, up 24%
- GAAP operating loss $6.2 million versus operating income of $14.4 million in the prior-year quarter; GAAP net loss $7.1 million, or $(0.02) per share
- Non-GAAP operating income $111.8 million, a 16.2% non-GAAP operating margin
- Third-quarter fiscal 2024 revenue guidance of $760 million; fiscal 2024 non-GAAP operating margin guidance of 15.5%