December Disappointments: 10 Big Names Troubled Early

5. Pure Storage, Inc. (NYSE:PSTG)

Pure Storage fell by 20.83 percent week-on-week as investors resorted to profit-taking following last week’s climb to the $90 territory, supported by its upbeat growth outlook for the full fiscal year.

In an updated report on Tuesday, Pure Storage, Inc. (NYSE:PSTG) said that total revenues jumped by 16 percent to $964 million from $831 million in the same period last year, on the back of strong revenues from products and subscription services.

Net income, however, declined by 13.8 percent to $54.8 million from $63.6 million year-on-year.

Encouraged by the results, Pure Storage, Inc. (NYSE:PSTG) raised its growth guidance for revenues for the full fiscal year to a range of $3.63 billion to $3.64 billion, or an implied growth of 14.5 percent to 14.9 percent year-on-year. This compares with previous expectations of $3.60 billion to $3.63 billion, or a 13.5 percent to 14.5 percent jump year-on-year.

Operating income was also expected to settle at $629 million to $639 million, versus $605 million to $625 million prior.

For the fourth quarter alone, Pure Storage, Inc. (NYSE:PSTG) expects revenues to be at $1.02 billion to $1.04 billion, or a growth rate of 16.5 percent to 17.6 percent.

Operating income is targeted at $220 million to $230 million, or a growth of 43.7 percent to 50.2 percent.