Pure Storage (NYSE:PSTG) shares climbed 22% intra-day today, following the announcement of strong fourth-quarter results and optimistic guidance. The company outperformed expectations with a fourth-quarter earnings per share (EPS) of $0.50, surpassing the predicted $0.44. Its revenue reached $789.8 million, exceeding forecasts of $784.21 million.

The quarter saw a remarkable 24% growth in subscription services revenue, totaling $328.9 million, and a 25% increase in subscription annual recurring revenue (ARR) to $1.4 billion.

For the upcoming Q1/25, Pure Storage anticipates revenues of $680 million, higher than the $667.3 million analysts had estimated. The company’s full-year revenue expectation is set at $3.1 billion, which is significantly above the $2.82 billion forecast by Wall Street analysts.

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