Search
Homepage This page's url is: -crn- Rankings and Research Companies Channelcast Marketing Matters CRNtv Events WOTC Jobs HPE Discover 2019 News Cisco Wi-Fi 6 Newsroom Dell Technologies Newsroom Hitachi Vantara Newsroom HP Reinvent Newsroom Lenovo Newsroom Nutanix Newsroom Cisco Live Newsroom HPE Zone Tech Provider Zone

Nutanix Stock Nosedives: What’s Behind The Plunge?

Nutanix’s market cap dropped from roughly $9 billion to $6 billion overnight after the company reported lower-than-expected guidance for its third quarter. On its second fiscal quarter earnings call Thursday night, executives pointed to a number of issues and what they say they are doing to fix them.

Back 1   2   3   ... 6 Next
photo

Weak Third-Quarter Guidance

Nutanix actually reported a solid fiscal second quarter Thursday in terms of sales, with revenue of $335 million, up from $289 million year over year. The company also added 920 new customers during the quarter and reported a 42 percent increase in software and support sales of nearly $300 million. However, the main reason for the massive stock drop was due to a weak guidance for its current third fiscal quarter.

Nutanix provided third-quarter revenue guidance of between $290 million and $300 million, and billings of between $360 million and $370 million. On average, analysts were expecting Nutanix third-quarter revenue to be around $348 million with billings of $430 million. Nutanix cited several reasons for the lower-than-expected guidance.

 
 
Back 1   2   3   ... 6 Next

sponsored resources