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Why Pure Storage Stock Soared 14.5% Today
The stock of Pure Storage (NYSE: PSTG), a provider of computer data storage hardware, was up 14.5% at 12:12 p.m. EDT on Thursday, even though the company reported only the very slimmest of earnings beats for its fiscal second quarter of 2022 last night. Analysts had forecast that Pure Storage would earn $0.05 per share, pro forma, while in fact the company earned $0.06. On the revenue front, however, Pure Storage blew away the expectations, recording $496.8 million where Wall Street had foreseen only $469.5 million.
