It's an unannounced Tech Wednesday, it seems, at least in the after-hours scene. Tonight following market close, several noted tech stocks reported their latest quarterly results.
So it's no wonder that tech is a lively sector in share-swapping tonight. Read on to find out the latest numbers from two prominent tech titles.
Image source: Getty Images.
Nutanix Q4: Well better than expected
Cloud computing provider Nutanix (NTNX -0.29%) delivered its final earnings report for its fiscal 2019, ending the year with quite a bang.
For Q4, the company earned just under $300 million in revenue. That was down slightly on a year-over-year basis. That was on nearly $372 million in bookings, against $395 million in the year-ago quarter.
On the bottom line, Nutanix's non-GAAP (adjusted) net loss deepened to almost $106 million, or $0.57, against the Q4 of fiscal 2018 result of $19 million.
Owing to factors such as a general slowdown in the market for cloud services generally, and a shift to a subscription-based business model particularly for Nutanix, investors had expected worse. On average, analysts were modeling revenue of just under $294 million and a deeper per-share net loss of $0.64.
The company also proffered selected guidance for its current Q1 of fiscal 2020. It believes revenue from its core software and support activities will come in between $290 million and $300 million. Adjusted per-share net loss should land around $0.75.
The market likes what it sees with Nutanix's latest numbers. The stock has zoomed 19% higher in post-market trading tonight.
Okta Q2: Narrowing net loss
Although the dynamic was similar with Okta (OKTA -0.65%), after-hours investors are reacting differently to the company's just-released quarterly results.
The online identity management specialist unveiled Q2 of fiscal 2020 figures showing that its revenue was $140.5 million, representing a 49% increase year over year. Total billings were $155.8 million, a 42% improvement. Okta's adjusted net loss narrowed considerably, to $5.5 million ($0.05 per share) from Q2 2019's $16.4 million ($0.15).
In the press release detailing the results, Okta wrote that it is benefiting "as organizations look to adopt more cloud technologies and accelerate their businesses' digital transformation in a highly secure and easy to use manner."
Collectively, analysts who track the stock were expecting revenue of $131.2 million and a per-share net loss of $0.10.
Okta's guidance for the full fiscal year anticipates that revenue will fall between $560 million and $563 million. The adjusted net loss is estimated at $62 million to $64 million, or $0.42 to $0.44 per share.
In spite of the beats, Okta shares are trading slightly lower just now. They're down by 2%.
