Nutanix Reports Q3 Earnings Beat with $0.28 EPS, Weak Q4 Guidance

Nutanix reported its third-quarter earnings, showing a revenue of $524.6 million and a net loss per share of $0.06. The company exceeded expectations with an EPS of $0.28 compared to the estimated $0.17 and revenue projections of $515.96 million. Nutanix also reported an 8% increase in ACV Billings. However, Nutanix provided a weaker guidance for the upcoming quarter and fiscal year. For the fourth quarter, the company expects revenue between $530 million and $540 million, below the consensus estimate of $548.1 million. For fiscal year 2024, Nutanix projects revenue between $2.13 billion and $2.14 billion, in line with estimates of $2.141 billion. The company's stock dropped 9% in after-hours trading following the announcement.