Nutanix offers weaker guidance, and stock drops 11%
By Claudia Assis
Shares of Nutanix Inc. fell about 11% in the extended session Thursday after the cloud-computing company reported a mixed quarter, missing revenue expectations by a wide margin, and offered weaker current-quarter guidance.
Nutanix (NTNX) lost $16 million, or 6 cents a share, in the fiscal third quarter, compared with a loss of $71 million, or 30 cents a share, in the year-ago quarter. Adjusted for one-time items, the company earned 28 cents a share.
Revenue rose 17% to $255 million, the company said.
Recent partnership announcements "reflect our continued focus on driving innovation and broadening our partnerships to further enhance the value proposition of Nutanix cloud platform," Chief Executive Rajiv Ramaswami said in a statement.
Analysts polled by FactSet expected the company to post adjusted earnings of 17 cents a share on sales of $516 million.
Nutanix guided for fiscal fourth-quarter revenue between $530 million and $540 million, and fiscal 2024 revenue between $2.13 billion and $2.14 billion.
That compares with FactSet expectations of fiscal fourth-quarter revenue of $546 million, and fiscal 2024 revenue of $2.14 billion.
-Claudia Assis
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05-29-24 2041ET
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