Nutanix’s stock rises on earnings, revenue beats

Nutanix Inc.’s
NTNX,
+2.59%
stock jumped more than 6% in extended trading Wednesday after the cloud-software company reported quarterly results that eclipsed analyst revenue and earnings estimates. Nutanix reported a fiscal-first-quarter net loss of $15.8 million, or 7 cents a share, compared with a net loss of $99.5 million, or 44 cents a share, in the same quarter a year ago. Adjusted earnings were 29 cents a share. Revenue was $511 million, compared with $433.6 million in the same quarter a year ago. Analysts surveyed by FactSet had expected on average net earnings of 18 cents a share on revenue of $501 million. “AI is a long-term event at all levels for our enterprise customers, but many of them are in an experimental phase,” Nutanix Chief Executive Rajiv Ramaswami said in an interview. “What we do is very central for any company going through a digital transformation and cost conscious.” Nutanix’s stock has propelled 59.5% this year, while the broader S&P 500 index
SPX,
-0.09%
has increased 18.5%.