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Why Nutanix Shares Skyrocketed Today

TheMotleyFool

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Why Nutanix Shares Skyrocketed TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, sunset photo at golden hour, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/a130cb51-4ded-41be-b600-b83e2078ad65.png

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%.

Image source: Getty Images.

Source Fool.com

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