Why Shares of Nutanix Crashed Today
Shares of Nutanix (NASDAQ: NTNX) tumbled on Thursday after the cloud software company reported its fiscal second-quarter results. Nutanix beat analyst estimates across the board, but the company cut its guidance for the full year. The stock was down about 26.2% at 11:45 a.m. EST.
Nutanix reported second-quarter revenue of $346.8 million, up 3.4% year over year and roughly $4.9 million higher than the average analyst estimate. Billings totaled $428.1 million, up 3.6% from the prior-year period. During the quarter, 79% of the total billings came from subscriptions. Subscription billings were up 45% year over year, while subscription revenue soared 69%.
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Source Fool.com
