Nutanix shares drop on downbeat Q4 revenue forecast
29/05/2024 21:29
** Shares of cloud services company Nutanix NTNX.O down
10.9% at $65.30 after the bell
** Co forecasts Q4 revenue in the range of $530 mln to $540
mln vs avg analysts' est of $546.07 mln - LSEG
** However, Q3 rev of $524.6 mln tops estimate of $516.2 mln
- LSEG
** Says Q3 witnessed 24% annual recurring revenue growth
compared to last year
** Up to last close, stock is up 53.7% YTD
(Reporting by Sourasis Bose in Bengaluru)
((Sourasis.bose@thomsonreuters.com))
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