Shares of Nutanix (Nasdaq: NTNX) tanked about 15% in the extended trading hours as the company’s fiscal third quarter 2019 revenue fell short of both analysts’ and the company’s predictions. Also, Nutanix’s weaker-than-expected guidance dragged the stock towards the negative territory.
Nutanix reported adjusted loss per share of $0.56 on revenue of $287.6 million. Wall Street expected the cloud services provider to report adjusted loss of $0.60 per share on revenue of $297.22 million. Nutanix stock was down 3.03% at $32.67 when the market closed today.
On a GAAP basis, Nutanix reported a net loss of $209.8 million or $1.15 per share compared to a GAAP net loss of $85.7 million or $0.51 in the third quarter of fiscal 2018. Billings dropped to $346 million from $351.2 million in the prior year quarter.
For the fourth quarter of fiscal 2019, Nutanix expects revenue between $280 million and $310 million, billings between $350 million and $380 million and non-GAAP net loss per share of approximately $0.65.
“While we faced a top-line impact in our third quarter as we continue to execute our strategic shift toward a recurring revenue business model, our strong foundation and commitment to our customers position us well for the long term,” said CEO Dheeraj Pandey.
Nutanix ended the third quarter with 13,190 end-customers. The San Jose, California-based firm signed a deal worth nearly $6 million with a new customer, which is one of the global Big Four accounting firms. This deal represents the largest subscription deal in Nutanix’s history with a new customer.
Last month, Nutanix and Hewlett Packard Enterprise (HPE) announced a partnership to deliver an integrated hybrid cloud as a Service (aaS) solution to the market. As part of the agreement, Nutanix will enable its channel partners to directly sell HPE servers combined with Nutanix’s Enterprise Cloud OS software.
Shares of Nutanix, which plunged to a new yearly low ($30.89) yesterday, had lost 24% of its value in the last one month and 34% in the past hree months.
Shares of Beyond Meat Inc. (NASDAQ: BYND) were down 4% on Wednesday. The stock has dropped 22% over the past 12 months and 16% since the beginning of this year.
The gaming industry witnessed a spike in demand after the coronavirus-related movement restrictions forced people to stay indoors. As the consumption of online content grew steadily, spending on video games
Video game company Electronic Arts, Inc. (NASDAQ: EA) reported lower earnings and revenues for the fourth quarter of 2021. Earnings also missed analysts' forecast. During the March quarter, net bookings