Nutanix plunges 25 percent on a sales forecast that's way below estimates

Cloud company Nutanix fell after reporting its second quarter 2019 earnings.

Shares of Nutanix plunged 25 percent in extended trading after the provider of cloud infrastructure technology gave a weaker-than-expected forecast in its fiscal second quarter earnings report. For the latest quarter, the company beat analyst expectations on the top and bottom lines.Nutanix expects revenue between $290 million to $300 million in the third quarter, compared to the $348 million analysts expected.

In the earnings release, Nutanix CFO Duston Williams said he expects the next quarter to reflect"the impact of inadequate marketing spending for pipeline generation and slower than expected sales hiring."Watch: Nutanix CEO sees an opportunity improve efficiencies in the cloud

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