Nutanix (NASDAQ: NTNX) dazzled investors in its latest earnings report. The cloud stock jumped 29% on Thursday as the company beat estimates on the top and bottom lines in its fiscal fourth quarter.

Though annual contract value (ACV) billings increased 10% to $193.2 million, revenue actually fell 1% to $385.5 million due to the timing of contracts and supply chain delays with its server partners. That top-line number was still much better than estimates at $354.9 million as contract renewals in the quarter were strong, and it actually faced fewer supply chain issues than expected.

On the bottom line, its loss per share narrowed from $0.26 to $0.17, compared to estimates for a per-share loss of $0.38. And Nutanix posted positive free cash flow (FCF) of $23.2 million, compared to a loss of $42.2 million in the quarter a year ago. The company finished the year with an FCF profit of $18.5 million -- its first year with positive free cash flow since 2018.

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Source Fool.com