Nutanix Inc. (NASDAQ:NTNX) shares were higher after the enterprise cloud computing firm reported stronger-than-expected fourth quarter results with revenue hitting US$226.1mln, some 62% higher than in the correspondng period in 2016.
The NASDAQ-listed firm said billings in the fourth quarter was US$289.2mln, a 40% rise year-over-year from US$206.6mln in the fourth quarter of fiscal 2016.
The firm, whose initial public offering was in 2016, added that for fiscal 2017, revenue was US$766.9mln, growing 72% year-over-year from US$444.9mln in fiscal 2016.
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Nutanix said for the first quarter of fiscal 2018 it expects revenues of between US$240mln and US$250mln.
Analysts widely expect revenue for fiscal 2018 to hit the US$1bn level.
Dheeraj Pandey, Nutanix CEO said.“The fourth quarter was another record quarter and an outstanding conclusion to the fiscal year. Our newly announced products, Nutanix Calm and Xi Cloud Services, extend our market opportunity by simplifying and harmonizing datacenter operations for the multi-cloud era.”
He addd that: “This quarter, marked by record revenues, continued adoption of AHV, increased software-only sales, strong growth from our OEM partners, and positive operating cash flow, was a great way to end our first year as a public company.”
Shares in the company were up 6.8% at US$23.50 before easing back to US$22.08.