Why Nutanix Shares Skyrocketed Today
Shares of Nutanix (NASDAQ: NTNX) have skyrocketed today, up by 27% as of 11 a.m. EDT, after the enterprise hybrid cloud provider reported fiscal fourth-quarter earnings results. The company beat expectations for both the top and bottom lines.
Revenue in the fiscal fourth quarter declined to $299.9 million, ahead of the $294 million in sales that analysts were modeling for. That translated into an adjusted net loss of $105.8 million, or $0.57 per share. Consensus estimates called for $0.64 per share in adjusted losses. Nutanix continues to transition to a subscription model, which helped adjusted gross margin to expand to a record 80%.
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Source Fool.com


