Pure Storage stock soars more than 30% to record as Meta deal bolsters results, outlook

Published: Thursday, August 28, 2025 at 4:43 pm

Pure Storage Stock Hits Record High Following Strong Earnings and Meta Deal

Pure Storage experienced a significant surge in its stock price, climbing over 30% to reach a record high. This positive performance was fueled by robust financial results and the ongoing expansion of its relationship with Meta.

The company's second-quarter revenue reached $861 million, a 13% increase, surpassing the average analyst estimate of $846.9 million. Adjusted earnings per share also exceeded expectations, coming in at 43 cents, compared to the 39-cent average analyst estimate.

Pure Storage has also revised its revenue guidance for the year, projecting between $3.6 billion and $3.63 billion, up from the previous forecast of $3.52 billion.

CEO Charles Giancarlo highlighted the successful rollout with Meta, stating it is "right on time and on target." Giancarlo also noted the company's recent focus on targeting hyperscalers, emphasizing the potential for continued growth in this area. He attributed the company's success to its ability to efficiently manage space, power, and cooling, which is particularly attractive in the current environment where power is at a premium.

The stock's rally on Wednesday pushed its market capitalization to $26 billion, marking a new peak and surpassing its previous high from January.

BNN's Perspective:

Pure Storage's impressive performance reflects a growing demand for efficient data storage solutions, particularly among hyperscalers. While the company's success is encouraging, it's important to monitor its ability to maintain this momentum and navigate the competitive landscape. The focus on power efficiency is a smart move, aligning with broader industry trends and potentially opening doors to further growth.

Keywords: Pure Storage, stock, earnings, Meta, revenue, hyperscalers, CEO, Charles Giancarlo, financial results, market cap, power efficiency, data storage, technology, growth, outlook

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