Motley Fool
Why Nutanix Stock Popped Today
Shares of Nutanix (NASDAQ: NTNX) were climbing today after the hybrid cloud specialist posted better-than-expected results in its fiscal fourth quarter, showing the company’s shift to an annual contract value (ACV) model is starting to pay off. Nutanix, which provides hyper-converged infrastructure software to help companies seamless move applications between different clouds, posted revenue growth of 19% to $390.7 million, easily beating estimates at $362.9 million. On the bottom line, Nutanix’s loss per share shrunk from $0.39 to $0.26 as the company successfully controlled costs even as the business grew.
