Nimble Storage Shares Crash On Quarterly Miss, Outlook
Nimble Storage Inc. shares plunged in the extended session after the flash storage company posted a wider-than-expected loss for the quarter and issued a disappointing outlook. Nimble shares dropped 36% to $13 on heavy volume. The company posted an adjusted third-quarter loss of 14 cents a share on revenue of $80.7 million. Analysts surveyed by FactSet had forecast a loss of 8 cents a share on revenue of $87.5 million. Nimble estimates an adjusted fourth-quarter loss of 11 cents to 13 cents a share on revenue of $87 million to $90 million. Analysts had forecast break-even results on revenue of $99.3 million.
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