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HomeBusinessNutanix Gains 4 percent Following Q1 Earnings Beat

Nutanix Gains 4 percent Following Q1 Earnings Beat


Nutanix (NASDAQ:NTNX) announced its first fiscal quarter earnings, surpassing analyst predictions and leading to an upward revision of its future guidance. Shares surged more than 4% intra-day today.
The company reported earnings per share (EPS) of $0.29, which significantly exceeded the analyst estimate of $0.18. Nutanix’s revenue for the quarter was $511.1 million, an 18% increase from the same period last year, and higher than the Street estimate of $501.3 million. Notable financial highlights include a subscription revenue of $479.5 million, a 19% year-over-year growth, and an adjusted gross margin of 85.9%, up from 83.4% the previous year.
Billings for the quarter were $561.1 million, surpassing the expected $531.7 million. Additionally, the annual contract value billings were $287.2 million, reflecting a 24% year-over-year increase and exceeding the Street estimate of $266.6 million.
For the upcoming second fiscal quarter, Nutanix forecasts revenue to be in the range of $545 million to $555 million, compared to the Street estimate of $534.11 million. For the full fiscal year 2024, the company’s revenue projection is between $2.095 billion and $2.125 billion, aligning closely with the consensus estimate of $2.1 billion.

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