Pure Storage blames the pricing environment for missing revenue

Pure Storage blames the pricing environment for missing revenue

Pure Storage Inc. joined a group of hardware companies that thwarted hopes of a rebound in the second half of the year, attributed its harsh pricing environment and economic slowdown to its third-quarter revenue shortfall and weaker fourth-quarter outlook. On Thursday, after the organization’s disappointing results, Pure Storage PSTG shares fell by -1.05% in after-hours trading, a drop of nearly 24%. The company’s stock has risen 24% so far this year, tracking the S&P 500’s SPX gains this year, -0.16% SPX and -0.16%, although the company has now lowered its…

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