Why Nutanix Stock Is Surging After Hours

Nutanix Inc NTNX shares are trading higher in Wednesday's after-hours session after the company reported better-than-expected results and issued guidance above analyst estimates.

Nutanix said fiscal fourth-quarter revenue decreased 1% year-over-year to $385.5 million, which beat average analyst estimates of $354.45 million, according to Benzinga Pro. The company reported a quarterly adjusted net loss of 17 cents per share, which beat average analyst estimates for a loss of 40 cents per share.

"Our Fiscal 2022 results reflect strong progress on our subscription model with 27% year-over-year ACV billings growth and achievement of positive free cash flow, which we expect to be sustainable on an annual basis," said Rukmini Sivaraman, CFO of Nutanix. 

Nutanix expects fiscal first-quarter revenue to be between $410 million and $415 million versus the estimate of $372.63 million. Nutanix expects full-year revenue to be between $1.77 billion and $1.78 billion versus the estimate of $1.55 billion.

Nutanix provides native hybrid cloud capabilities for businesses.

See Also: Why Is Okta Stock Falling After Hours?

NTNX Price Action: Nutanix has a 52-week high of $32.14 and a 52-week low of $13.44.

The stock was up 14.2% in after hours at $19.75 at press time.

Photo: Free Blog Photos from Flickr.