Nutanix stock drops as revenue, outlook miss Street view

Nutanix Inc. shares fell in the extended session Thursday after the cloud-software company's revenue and outlook missed Wall Street estimates. Nutanix shares dropped 15% after hours, following a 3% decline to close the regular session at $32.67. The company reported a fiscal third-quarter loss of $209.8 million, or $1.15 a share, compared with a loss of $85.7 million, or 51 cents a share, in the year-ago period. The adjusted net loss was 56 cents a share. Revenue declined to $287.6 million from $289.4 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 58 cents a share on revenue of $297.2 million. Nutanix expects an adjusted loss of about 65 cents a share of revenue of $280 million to $310 million in the fourth quarter, while analysts had forecast a loss of 49 cents a share on revenue of $332.9 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.