Nutanix Inc. shares were up more than 5% in after-hours trading Tuesday after the company topped expectations with its preliminary results for the fiscal third quarter that ended in April. The company expects fiscal third-quarter revenue of $312 million to $317 million, up from $288 million in the year-earlier quarter. Analysts surveyed by FactSet were modeling $306 million. Nutanix also expects total revenue, software and support (TCV) revenue of $307 million to $312 million and TCV bookings of $371 million to $376 million. "While we have continued to see steady demand for our hybrid cloud solutions, there is a significant level of uncertainty regarding the ongoing impact of COVID-19 on our customers and end markets over the coming quarters," Chief Financial Officer Duston Williams said in a release. The company is "proactively and prudently managing expenses to help ensure the long-term health of our business during this pandemic. It is also pulling its fiscal 2020 outlook as well as its business model targets for calendar 2021. Shares have declined 50% over the past three months as the S&P 500 has lost 14%.
Source marketwatch
Source marketwatch