Nutanix (NTNX)

[LYRICMIAMI]

Nutanix Rising: FYQ4 Beats, Q1 Revenue View Tops Consensus
Shares of enterprise technology upstart Nutanix rose by 4% in late trading on a better-than-expected quarterly report and a projection for revenue this quarter comfortably ahead of expectations.
ByTiernan Ray Aug. 31, 2017 4:17 p.m. ET

Enterprise technology vendor Nutanix (NTNX) this afternoon reportedfiscal Q4 revenue and profit that topped analysts’ expectations, and forecast revenue this quarter quite a bit higher than expected, sending its shares higher in late trading.

Revenue in the three months ended in July rose 62%, year over year, to $226. million, yielding a net loss of 33 cents.

Analysts had been modeling $218 million and a 38-cent net loss.

Nutanix said its “billings” rose 40%, year over year, to $206.6 million.

Chief executive Dheeraj Pandey called it "an outstanding conclusion to the fiscal year” and took the opportunity to trumpet the company’s newer products, "Nutanix Calm" and "Xi Cloud Services."

Pandey cited highlights of the quarter, such as "continued adoption of AHV, increased software-only sales, strong growth from our OEM partners, and positive operating cash flow."

For the current quarter, the company sees revenue of $240 million to $250 million, considerably higher than consensus for $232 million. Net loss is projected to be 37 cents per share, in line with consensus.

Nutanix stock is up 95 cents, over 4%, at $22.95, in late trading.