Pivotal Software has cut its revenue targets for the second quarter and fiscal 2020 as the company cited "sales execution and a complex technology landscape."
For the second quarter, Pivotal Software, which is in the Dell Technologies portfolio, projected total revenue of $185 million to $189 million with a non-GAAP loss of 4 cents a share to 3 cents a share.
Wall Street was looking for revenue of $198 million and a non-GAAP loss of 3 cents a share.
For fiscal 2020, Pivotal projected total revenue of $756 million to $767 million with a non-GAAP loss of 15 cents a share to 14 cents a share. The loss guidance was in line, but sales were projected to be $802.6 million for the fiscal year.
CEO Rob Mee said Pivotal saw sales execution issues and that a "complex technology landscape impacted the quarter."
Relative to the outlook provided, Pivotal's first quarter wasn't bad. The company reported a first quarter net loss of $31.7 million, or 12 cents a share, on revenue of $185.7 million. Non-GAAP loss for the first quarter was 3 cents a share.
Wall Street was looking for first quarter revenue of $184.1 million with non-GAAP loss of 5 cents a share.