Why Nutanix Tanked 20.1% This Week
Shares of Nutanix (NASDAQ: NTNX) dropped 20.1% this week, according to S&P Global Market Intelligence. The hybrid cloud company reported solid growth for its fiscal third quarter, but the results were well below the consensus analyst expectations. Shares opened down 35% the day following its report and are down around 20.1%, as of this writing.
On May 25, Nutanix reported earnings for the three months ending April 30. Revenue grew 17% year over year to $404 million, with annual recurring revenue (ARR) up 46% year over year to $1.1 billion. Free cash flow was a negative $20.1 million, an improvement from a negative $70.5 million a year ago, which shows the operating leverage Nutanix is slowly obtaining with its business model.
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Source Fool.com
