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Nutanix (NTNX) Reports Q2 Earnings: What Key Metrics Have to Say
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Nutanix (NTNX - Free Report) reported $565.23 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 16.2%. EPS of $0.46 for the same period compares to $0.12 a year ago.
The reported revenue represents a surprise of +2.43% over the Zacks Consensus Estimate of $551.82 million. With the consensus EPS estimate being $0.29, the EPS surprise was +58.62%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): $329.48 million versus $302.91 million estimated by seven analysts on average.
Disaggregation of billings - Professional services billings: $35.48 million compared to the $26.80 million average estimate based on four analysts.
Total end customers: 25,370 versus 25,579 estimated by three analysts on average.
Total Billings: $616.48 million versus the three-analyst average estimate of $635.05 million.
Disaggregation of billings - Subscription billings: $572.76 million versus $573.50 million estimated by three analysts on average.
Annual Recurring Revenue (ARR): $1.74 billion compared to the $1.71 billion average estimate based on two analysts.
Revenue- Support, entitlements and other services: $265.57 million versus the six-analyst average estimate of $271.73 million.
Revenue- Product: $299.66 million versus $278.79 million estimated by six analysts on average.
Disaggregation of Revenue- Professional services revenue: $25.01 million versus $24.97 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +6.7% change.
Disaggregation of Revenue- Subscription revenue: $531.98 million compared to the $515.42 million average estimate based on four analysts. The reported number represents a change of +18% year over year.
Shares of Nutanix have returned +3.1% over the past month versus the Zacks S&P 500 composite's +4% 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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Nutanix (NTNX) Reports Q2 Earnings: What Key Metrics Have to Say
Nutanix (NTNX - Free Report) reported $565.23 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 16.2%. EPS of $0.46 for the same period compares to $0.12 a year ago.
The reported revenue represents a surprise of +2.43% over the Zacks Consensus Estimate of $551.82 million. With the consensus EPS estimate being $0.29, the EPS surprise was +58.62%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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): $329.48 million versus $302.91 million estimated by seven analysts on average.
- Disaggregation of billings - Professional services billings: $35.48 million compared to the $26.80 million average estimate based on four analysts.
- Total end customers: 25,370 versus 25,579 estimated by three analysts on average.
- Total Billings: $616.48 million versus the three-analyst average estimate of $635.05 million.
- Disaggregation of billings - Subscription billings: $572.76 million versus $573.50 million estimated by three analysts on average.
- Annual Recurring Revenue (ARR): $1.74 billion compared to the $1.71 billion average estimate based on two analysts.
- Revenue- Support, entitlements and other services: $265.57 million versus the six-analyst average estimate of $271.73 million.
- Revenue- Product: $299.66 million versus $278.79 million estimated by six analysts on average.
- Disaggregation of Revenue- Professional services revenue: $25.01 million versus $24.97 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +6.7% change.
- Disaggregation of Revenue- Subscription revenue: $531.98 million compared to the $515.42 million average estimate based on four analysts. The reported number represents a change of +18% year over year.
View all Key Company Metrics for Nutanix here>>>Shares of Nutanix have returned +3.1% over the past month versus the Zacks S&P 500 composite's +4% 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.