Nutanix’s stock soars 12% on revenue beat, strong sales guidance

Nutanix Inc.’s
NTNX,
+0.94%
stock improved 12% in extended trading Thursday after the company reported quarterly revenue that topped analyst estimates and issued strong sales guidance. The company’s board also authorized the repurchase of up to $350 million in stock. Nutanix reported a fiscal fourth-quarter net loss of $13.3 million. Adjusted earnings were 24 cents a share. Revenue leaped 28% to $494.2 million from $385.5 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 16 cents a share on revenue of $475 million. Nutanix is predicting $495 million to $505 million in first-quarter sales, blowing past analyst estimates of $487 million. Shares of Nutanix have gained 19% this year, while the broader S&P 500 index
SPX,
-0.16%
is up 17%.