Pure Storage Stock Falls After Q2 Results: What's Going On?
Portfolio Pulse from Erica Kollmann
Pure Storage Inc. (NYSE:PSTG) reported better-than-expected Q2 earnings and revenue, but its stock fell 14% after-hours. The company also provided a positive revenue outlook for Q3. Meanwhile, NVIDIA Corp (NASDAQ:NVDA) shares dropped 4% after its Q2 results.
August 28, 2024 | 9:12 pm
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NEGATIVE IMPACT
NVIDIA shares fell 4% after the company reported its Q2 results.
NVIDIA's stock fell 4% after reporting Q2 results, suggesting a negative market reaction to the earnings report.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Pure Storage reported Q2 earnings and revenue that exceeded expectations, but its stock fell 14% after-hours. The company provided a positive revenue outlook for Q3.
Despite beating earnings and revenue estimates, Pure Storage's stock fell 14% after-hours, indicating a negative market reaction. The positive Q3 revenue outlook may not have been enough to offset other concerns.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100