Why Nutanix Stock Fell Hard Today
Shares of cloud computing company Nutanix (NASDAQ: NTNX) fell sharply this morning after that the company reported a third-quarter loss that was far worse than expected and issued revenue guidance that was below Wall Street's average estimate.
As a result, the tech stock plummeted 23.2% as of 10:30 a.m. ET.
Nutanix's third-quarter sales increased 17% from the year-ago quarter to $403.7 million and beat analysts' consensus estimate of $397.9 million. But investors were unenthused about the company's quarterly sales and instead focused their attention on Nutanix's loss and its outlook for the rest of the year.
Source Fool.com
