Cloud Computing Company Misses Revenue Expectations

  • Nutanix stock drops 12% after reporting mixed Q3 results
  • Revenue misses expectations by a wide margin
  • Weaker guidance for Q4 and FY2024 revenue provided
  • CEO Rajiv Ramaswami highlights partnership focus

Nutanix Inc. reported a mixed quarter, missing revenue expectations by a wide margin and offering weaker current-quarter guidance, causing its stock to fall more than 12% in the extended session. The company lost $16 million or 6 cents a share compared to the same period last year, while adjusted earnings were 28 cents a share. Revenue increased by 17% to $255 million. CEO Rajiv Ramaswami emphasized partnership focus as a key strategy. Nutanix guided for Q4 revenue between $530 million and $540 million, and FY2024 revenue between $2.13 billion and $2.14 billion, which is lower than analyst expectations.

Factuality Level: 8
Factuality Justification: The article provides accurate information about Nutanix’s financial performance, including the company’s earnings, revenue, and guidance for future quarters. It also includes a statement from the CEO regarding partnership announcements. However, it does not include any personal opinions or bias.
Noise Level: 7
Noise Justification: The article provides a brief overview of Nutanix’s financial performance but lacks in-depth analysis or context about the company’s position in the market and industry trends. It also does not offer any actionable insights or new knowledge for readers.
Public Companies: Nutanix Inc. (NTNX)
Key People: Rajiv Ramaswami (Chief Executive)

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Financial Relevance: Yes
Financial Markets Impacted: Nutanix Inc.
Financial Rating Justification: The article discusses Nutanix Inc.’s financial performance, including its quarterly results and guidance, which can impact the company’s stock price and potentially affect investors’ decisions.
Presence Of Extreme Event: b
Nature Of Extreme Event: Financial Crash or Crisis
Impact Rating Of The Extreme Event: Severe
Extreme Rating Justification: The financial crash is due to the company missing revenue expectations by a wide margin and offering weaker current-quarter guidance, leading to a significant drop in share prices.

Reported publicly: www.marketwatch.com