Nutanix's stock rises on earnings, revenue beats
Nutanix Inc.'s (NTNX) 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 has increased 18.5%.
-Jon Swartz
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
11-29-23 1825ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Markets Brief: Is It Really a Surprising Quarter for Earnings?
-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
What I Hope My 14-Year-Old Learned at Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Amazon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks
-
3 Stocks With High Dividend Yields That Warren Buffett Likes
-
How to Invest Like Warren Buffett
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?