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Why Shares of Nutanix Crashed Today

TheMotleyFool

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Why Shares of Nutanix Crashed TodayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

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%.

Image source: Getty Images.

Source Fool.com

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