Categories Earnings, Technology

Nutanix (NTNX) beats top and bottom line estimates for Q1 2020; stock advances

Nutanix (NASDAQ: NTNX) reported better-than-expected financial results for the first quarter of 2020. The company reported a non-GAAP loss of $0.71 per share on revenue of $314 million. Analysts had estimated the cloud computing firm to report a loss of $0.75 per share on revenue of $306.41 million. Nutanix stock jumped more than 15% during the after-market session.

Nutanix (NTNX) beats top and bottom line estimates for Q1 2020; stock advances

On a GAAP basis, Nutanix reported a loss of $1.21 per share in the first quarter of 2020 compared to a GAAP net loss per share of $0.54 in the first quarter of fiscal 2019. Software and Support revenue grew 9% year-over-year to $305 million. Software and Support billings were up 5% to $370.3 million.

Nutanix ended the fourth quarter of fiscal 2019 with 14,960 total customers and closed a record high of 66 deals worth more than $1 million.

For the second quarter of 2020, Nutanix expects non-GAAP net loss per share of approximately $0.70. Software and Support revenue is targeted to be between $330 million and $335 million and Software and Support billings is expected to be between $410 million and $420 million.

For fiscal 2020, the San Jose, California-based tech firm expects Software and Support billings of $1.65 billion and $1.75 billion and Software and Support revenue to be in the range of $1.30 billion and $1.40 billion.

“Our last two quarters of solid execution position us well to deliver on our growth plans for fiscal 2020”, said CFO Duston Williams.

Nutanix shares have gained 46% in the past three months and have dropped 31% since the beginning of 2019.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips

Most Popular

Stock Watch: Is Darden Restaurants a good buy after earnings?

After a prolonged slowdown, the restaurant industry is returning to normal patterns but macroeconomic uncertainties and high inflation are currently playing spoilsport for it. While the pandemic-related slump forced many

Lennar (LEN) believes that despite near-term challenges, the long-term prospects for housing remain strong

Shares of Lennar Corporation (NYSE: LEN) were down 3% on Monday. The stock has dropped 36% year-to-date and 25% over the past 12 months. The homebuilder delivered mixed results for

KB Home (KBH): What did and did not work for the homebuilder in the third quarter

Shares of KB Home (NYSE: KBH) were up slightly on Friday. The stock has dropped 40% year-to-date and 35% over the past 12 months. The company delivered mixed results for

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top