Nutanix Inc (NASDAQ:NTNX) was up 19% in early premarket deals, at $37.00, with a better-than-expected quarter supported by a customer base that continues to modernize its IT services, increasingly onto the cloud.
At $494.2 million fourth-quarter revenue was up 28% year-over-year, and, surpassed analyst forecasts of $475 million.
Earnings meanwhile came in at 24 cents per share, versus an expected 16 cents, albeit the company still reported a $13.3 million net loss.
Guidance for its current quarter (fiscal Q1 2024) was lifted with sales anticipated between $495 million and $505 million, compared with the $487 million previously pencilled in by the analysts following the stock.
AI was a talking point for management, as seems customary in the current earnings cycle, with chief executive Rajiv Ramaswami expecting adoption of AI-assisted workflows to drive further growth for the company.