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Nimble Storage soars after posting Q1 beat

Shares of Nimble Storage surged nearly 17 percent Wednesday after reporting first-quarter results that topped Wall Street expectations.

The data firm reported an adjusted loss of 24 cents per share on revenue of $86.4 million, while analysts polled by Reuters had expected the company to post a loss of 26 cents a share on revenue of $84.6 million.

Nimble's revenue figure represents a 21 percent year-over-year increase for the quarter.

"We saw strong customer and channel partner interest in our All Flash Arrays with deal sizes substantially above our overall average. All Flash Arrays accounted for 12% of our total array bookings during the first quarter after launch," Nimble CEO Suresh Vasudevan said in a statement.

Nimble's stock has risen almost 27 percent over the past three months, but it has fallen more than 67 percent over the past year.

NMBL 12-month chartSource: FactSet