11:44 AM EDT, 05/30/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Nutanix ( NTNX ) shares were down more than 20% in recent Thursday trading, a day after the company reported fiscal Q3 results.

The company reported non-GAAP earnings late Wednesday of $0.28 per diluted share, up from $0.08 a year earlier.

Analysts polled by Capital IQ expected $0.17.

Revenue for the quarter ended April 30 was $524.6 million, up from $448.6 million a year earlier.

Analysts surveyed by Capital IQ expected $516.7 million

The company said it expects Q4 revenue between $530 million and $540 million.

Analysts polled by Capital IQ expect $548.1 million.

The cloud software maker said it expects fiscal 2024 revenue between $2.13 billion and $2.14 billion, against $2.12 billion and $2.15 billion previously.

Analysts surveyed by Capital IQ expect $2.14 billion.

Price: 58.03, Change: -15.26, Percent Change: -20.82