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After Hours: Nutanix's Q4 and Okta's Q2 Beat Estimates

By Eric Volkman – Updated Aug 28, 2019 at 11:04PM

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It's a Tale of Two Tech Stocks this evening, with the pair of companies beating analyst projections.

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.

Person using a PC with comms equipment in the foreground.

Image source: Getty Images.

Nutanix Q4: Well better than expected

Cloud computing provider Nutanix (NTNX -5.08%) 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 -1.95%), 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%.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Okta. The Motley Fool recommends Nutanix. The Motley Fool has a disclosure policy.

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Stocks Mentioned

Nutanix Stock Quote
Nutanix
NTNX
$20.56 (-5.08%) $-1.10
Okta Stock Quote
Okta
OKTA
$54.18 (-1.95%) $-1.08

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