Nutanix Inc (NTNX) said after close Wednesday that it earned $0.29 per share in quarter one 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $511.1 million, beating estimates by $9.7 million.
In the same quarter a year ago, the company earned $0.03 per share on revenue of $433.6 million.
The stock is up 2.3% to $42.52 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Nutanix Inc a Bullish Sentiment Rank from InvestorsObserver.
Nutanix Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 99, putting Nutanix Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $41.74 on November 29, 2023 and set a 52-week low on April 27, 2023 at $23.35.
Nutanix Inc provides native hybrid cloud capabilities for businesses. The company offers Enterprise Cloud Platform to businesses for various uses such as web-scale engineering and consumer-grade design, virtualization, and storage into a resilient, and software-defined solution. Geographically, it derives a majority of revenue from the United States and also has a presence in Europe, the Middle East, Asia Pacific, Africa, and other regions.
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Nutanix Inc Up 2.3% To $42.52 After Earnings Beat
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