Shares of Nutanix (NASDAQ: NTNX) were up 12.3% as of 2:20 p.m. ET Friday after the cloud computing and hyperconverged infrastructure (HCI) specialist announced strong fiscal 2023 fourth-quarter results (for the period ended July 31).
Nutanix's quarterly revenue climbed 28% year over year, to $494.2 million, translating to adjusted earnings of $67.5 million, or $0.24 per diluted share. By comparison, most analysts were modeling adjusted earnings of only $0.16 per share on revenue of $475.9 million.
Nutanix CEO Rajiv Ramaswami credited the company's subscription model for driving "consistent execution over the course of the year against an uncertain macro backdrop."
Source Fool.com