CEO and Chairman Charles Giancarlo said, “Our strong second quarter results demonstrate ever more customers' confidence in the value of the Pure Storage platform to advance their data storage and management."
The company reported second-quarter adjusted earnings per share of $1, reversing from an adjusted loss of $0.70 per share in the year-ago quarter, and 24% YoY revenue growth.
Datadog CEO Olivier Pomel said that at the end of Q2, the company has approximately 3,850 customers generating at least $100,000 in annual recurring revenue.
Index inclusion generates positive sentiment toward the stock, as investors view it as a validation of the company’s credentials as a stable and growing entity.
CEO Dev Ittycheria said enterprises and startups are choosing MongoDB as their platform of choice for both modernizing existing and building new applications.
Lumen Tech said it was partnering with Google Cloud to deliver “advanced cloud and network solutions that meet the rising demands of enterprise customers.”
Verint noted that ASC 606, a set of accounting rules governing how a company recognizes revenue from customer contracts, impacted its top- and bottom-line results.
At the Investor Day held in mid-January, the company said it has transitioned to a subscription model, with 80% of the revenue for the year coming from subscription offerings.
Pure Storage shares rise due to expansion of AI solutions with GenAI Pod, a full-stack, turnkey solution that reduces deployment time and complexity. FlashBlade//S500 also certified with NVIDIA DGX SuperPOD, offering validated designs for turnkey use cases.
Oppenheimer analyst initiates coverage on Pure Storage with Outperform rating and $70 price target, citing potential growth in demand for unstructured data and the company's strong position in the data storage market.
Lumen partners with Meta to boost network capacity and AI ambitions. The Lumen partnership offers Meta with increased flexibility through secure on-demand bandwidth to support its complex computing needs.
