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MARKETS LIVE BLOG:

TECH DRAGS STOCKS LOWER AS RALLY HITS PAUSE

Fed's Collins warns interest rates will likely stay higher for longer

Compared to Estimates, Nutanix (NTNX) Q3 Earnings: A Look at Key Metrics

Zacks Equity Research
·2 min read

Nutanix (NTNX) reported $448.58 million in revenue for the quarter ended April 2023, representing a year-over-year increase of 11.1%. EPS of $0.04 for the same period compares to -$0.05 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $432.76 million, representing a surprise of +3.66%. The company delivered an EPS surprise of +100.00%, with the consensus EPS estimate being $0.02.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Nutanix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue Product: $212.51 million versus the six-analyst average estimate of $198.46 million. The reported number represents a year-over-year change of +6.5%.

  • Revenue- Support, entitlements & other services: $236.07 million compared to the $224.72 million average estimate based on six analysts. The reported number represents a change of +15.7% year over year.

  • Disaggregation of Revenue- Professional services revenue: $22.10 million compared to the $23.11 million average estimate based on four analysts.

  • Disaggregation of Revenue- Hardware revenue: $0.62 million versus $0.90 million estimated by four analysts on average.

  • Disaggregation of Revenue- Subscription revenue: $417.52 million versus the four-analyst average estimate of $394.26 million.

  • Disaggregation of Revenue- Non-portable software revenue: $8.35 million versus $6.80 million estimated by four analysts on average.

View all Key Company Metrics for Nutanix here>>>

Shares of Nutanix have returned +9.1% over the past month versus the Zacks S&P 500 composite's +0.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research