Mixed bag of tech outlooks from Autodesk, Nutanix, and Splunk
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Enterprise software players across design, enterprise cloud, and analytics delivered solid quarters, but had mixed outlooks.
Autodeskdelivered strong first quarter earnings, but its outlook for the current quarter was light.
The design software company reported first quarter revenue of $560 million, up 15 percent from a year ago. The company said it added 307,000 subscriptions to hit 2.57 million at the end of the quarter. Non-GAAP earnings for the quarter were 6 cents a share and the GAAP net loss was 38 cents a share.
Autodesk said customers were swapping maintenance plan deals to subscriptions. For the second quarter, Autodesk projected second quarter revenue of $595 million to $605 million with non-GAAP earnings of 13 cents a share to 16 cents a share.
Wall Street was looking for second quarter earnings of 18 cents a share on revenue of $598.5 million.
For fiscal 2019, Autodesk projected revenue between $2.45 million and $2.5 million with non-GAAP earnings of 77 cents a share to 95 cents a share. That guidance was under the 606 accounting standard.
Nutanix, an enterprise cloud computing player, delivered third quarter results that rattled shares in afterhours trading. The company reported a third quarter non-GAAP loss of 21 cents a share on revenue of $289.4 million, up 41 percent.
Those results were better than expected, but the outlook is what hit shares.
For the fourth quarter, Nutanix projected a non-GAAP net loss of 20 cents a share to 22 cents a share with revenue between $295 million to $300 million. Wall Street was expecting a loss of 13 cents a share on revenue of $289 million.
Splunk reported a first quarter non-GAAP loss of 7 cents a share on revenue of $311.6 million, up 37 percent from a year ago. The GAAP loss for the quarter was 83 cents a share.
The company signed more than 460 new enterprise customers in the quarter.
As for the outlook, Splunk projected second quarter revenue of $356 million to $358 million with a non-GAAP operating margin of about 2 percent.
Wall Street was expecting second quarter revenue of $354.3 million.
For fiscal 2019, Splunk projected revenue of about $1.645 billion.