Why Shares of Pure Storage Jumped on Friday

Why Shares of Pure Storage Jumped on Friday

Shares of data cloud platform Pure Storage (NYSE: PSTG) jumped as much as 14.4% on Friday morning, following the company's second-quarter earnings release for fiscal 2018. At the time of this writing, the stock is up about 13.5%.

Investor optimism toward Pure Storage stock on Friday is likely a reflection of the company's better-than-expected second-quarter revenue and adjusted EPS. With $224.5 million of quarterly revenue and an adjusted loss per share of $0.11, the company exceeded consensus analyst estimates for revenue of $218.6 million and adjusted loss per share of $0.14.

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Source: Fool.com