For the quarter ended October 2024, Nutanix (NTNX) reported revenue of $590.96 million, up 15.6% over the same period last year. EPS came in at $0.42, compared to $0.29 in the year-ago quarter.
The reported revenue represents a surprise of +3.37% over the Zacks Consensus Estimate of $571.72 million. With the consensus EPS estimate being $0.31, the EPS surprise was +35.48%.
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.
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:
- Total Billings: $591.40 million versus the six-analyst average estimate of $634.13 million.
- Annual Recurring Revenue (ARR): $1.97 billion compared to the $2.01 billion average estimate based on six analysts.
- Disaggregation of billings - Professional services billings: $24.13 million compared to the $29.28 million average estimate based on four analysts.
- Disaggregation of billings - Subscription billings: $564.29 million compared to the $588.94 million average estimate based on three analysts.
- Revenue- Support, entitlements and other services: $289.04 million compared to the $291.06 million average estimate based on 10 analysts. The reported number represents a change of +9.4% year over year.
- Revenue- Product: $301.92 million compared to the $280.87 million average estimate based on 10 analysts. The reported number represents a change of +22.3% year over year.
- Disaggregation of Revenue- Professional services revenue: $27.29 million compared to the $25.59 million average estimate based on eight analysts. The reported number represents a change of +19.5% year over year.
- Disaggregation of Revenue- Subscription revenue: $560.70 million versus $540.79 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +16.9% change.
- Disaggregation of Revenue- Non-portable software revenue: $2.98 million versus $4.39 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a -63.3% change.
Shares of Nutanix have returned +13.5% over the past month versus the Zacks S&P 500 composite's +3.2% 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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