Pure Storage (NYSE:PSTG) reported its Q2 results, with EPS of $0.32 coming in better than the consensus estimate of $0.28. Revenue increased 6.5% year-over-year to $688.7 million, beating the consensus estimate of $681.95M.
Subscription services revenue grew 24% year-over-year to $288.9M. Meanwhile, subscription annual recurring revenue (ARR) increased 27% year-over-year to $1.2 billion. The remaining performance obligations (RPO) were $1.9 billion, representing a 26% year-over-year growth.
"We were very pleased with record sales across our FlashBlade portfolio, and doubling sales of our Evergreen//One subscription offering this quarter. With our Purity software working directly with raw flash, we have established substantial differentiated advantages and business value for our customers, while at the same time expanding our margins,” said CFO Kevan Krysler.
For Q3/24, the company expects revenue of $760M. For the full year, the company sees revenue growth to be in the mid to high single digits.