Pure Storage Soars On Narrower-than-expected Quarterly Loss

Shares of Pure Storage Inc. soared in Wednesday's extended session after the flash-storage firm posted a smaller-than-projected quarterly loss. Pure Storage reported its first-quarter loss narrowed to $62.4 million, or 30 cents a share, from a loss of $63.8 million, or 34 cents a share, a year ago. On an adjusted basis, the company would have lost 14 cents a share. Revenue grew 31% to $182.6 million. Analysts surveyed by FactSet had forecast a loss of 22 cents a share on revenue of $176 million. Pure Storage surged 16% in after hours.