Nutanix -16.8% on revenue miss, downside outlook
May 30, 2019 4:14 PM ET|About: Nutanix, Inc. (NTNX)|By: Brandy Betz, SA News Editor
Nutanix (NASDAQ:NTNX) plunges 16.8% after Q3 results that posted a narrower than expected loss per share but missed revenue estimates.
- Software and Support revenue grew 17% Y/Y to $287.6M.
- Downside Q4 guidance has revenue of $280-310M (estimate: $332.87M) with a loss per share of $0.65 (estimate: $0.49).
- Q3 adjusted gross margin was 77.1% versus 68.4% in last year’s quarter and the 75.9% consensus.
- Billings were down from $351.2M in last year’s quarter to $346M.
Another bad print today and lowered guidance for NTNX. The CEO clearly doesn’t have a beat on the business. Kudos to Saul and most of the board here for confidently blowing out of this one months ago after the first disastrous report.