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Nutanix (NTNX) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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Nutanix (NTNX - Free Report) reported $511.05 million in revenue for the quarter ended October 2023, representing a year-over-year increase of 17.9%. EPS of $0.29 for the same period compares to $0.03 a year ago.
The reported revenue represents a surprise of +1.95% over the Zacks Consensus Estimate of $501.27 million. With the consensus EPS estimate being $0.17, the EPS surprise was +70.59%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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.
Here is how Nutanix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Annual Contract Value Billings (ACV Billings): $287.22 million versus $266.39 million estimated by seven analysts on average.
Disaggregation of billings - Professional services billings: $23.48 million versus $23.62 million estimated by four analysts on average.
Total Billings: $561.13 million versus the three-analyst average estimate of $552.63 million.
Disaggregation of billings - Subscription billings: $528.91 million compared to the $491.71 million average estimate based on three analysts.
Annual Recurring Revenue (ARR): $1.66 billion compared to the $1.54 billion average estimate based on two analysts.
Revenue- Product: $246.92 million versus the six-analyst average estimate of $242.47 million. The reported number represents a year-over-year change of +18.4%.
Revenue- Support, entitlements and other services: $264.13 million versus the six-analyst average estimate of $258.74 million. The reported number represents a year-over-year change of +17.4%.
Disaggregation of Revenue- Professional services revenue: $22.84 million versus the four-analyst average estimate of $24.22 million. The reported number represents a year-over-year change of +2.5%.
Disaggregation of Revenue- Hardware revenue: $0.60 million versus the four-analyst average estimate of $0.50 million. The reported number represents a year-over-year change of -3.9%.
Disaggregation of Revenue- Subscription revenue: $479.48 million versus the four-analyst average estimate of $466.12 million. The reported number represents a year-over-year change of +19%.
Disaggregation of Revenue- Non-portable software revenue: $8.10 million versus the four-analyst average estimate of $9.52 million. The reported number represents a year-over-year change of +4.1%.
Shares of Nutanix have returned +11.9% over the past month versus the Zacks S&P 500 composite's +10.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Nutanix (NTNX) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
Nutanix (NTNX - Free Report) reported $511.05 million in revenue for the quarter ended October 2023, representing a year-over-year increase of 17.9%. EPS of $0.29 for the same period compares to $0.03 a year ago.
The reported revenue represents a surprise of +1.95% over the Zacks Consensus Estimate of $501.27 million. With the consensus EPS estimate being $0.17, the EPS surprise was +70.59%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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.
Here is how Nutanix performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Annual Contract Value Billings (ACV Billings): $287.22 million versus $266.39 million estimated by seven analysts on average.
- Disaggregation of billings - Professional services billings: $23.48 million versus $23.62 million estimated by four analysts on average.
- Total Billings: $561.13 million versus the three-analyst average estimate of $552.63 million.
- Disaggregation of billings - Subscription billings: $528.91 million compared to the $491.71 million average estimate based on three analysts.
- Annual Recurring Revenue (ARR): $1.66 billion compared to the $1.54 billion average estimate based on two analysts.
- Revenue- Product: $246.92 million versus the six-analyst average estimate of $242.47 million. The reported number represents a year-over-year change of +18.4%.
- Revenue- Support, entitlements and other services: $264.13 million versus the six-analyst average estimate of $258.74 million. The reported number represents a year-over-year change of +17.4%.
- Disaggregation of Revenue- Professional services revenue: $22.84 million versus the four-analyst average estimate of $24.22 million. The reported number represents a year-over-year change of +2.5%.
- Disaggregation of Revenue- Hardware revenue: $0.60 million versus the four-analyst average estimate of $0.50 million. The reported number represents a year-over-year change of -3.9%.
- Disaggregation of Revenue- Subscription revenue: $479.48 million versus the four-analyst average estimate of $466.12 million. The reported number represents a year-over-year change of +19%.
- Disaggregation of Revenue- Non-portable software revenue: $8.10 million versus the four-analyst average estimate of $9.52 million. The reported number represents a year-over-year change of +4.1%.
View all Key Company Metrics for Nutanix here>>>Shares of Nutanix have returned +11.9% over the past month versus the Zacks S&P 500 composite's +10.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.