Nutanix stock jumps 15% on Q3 beat & strong outlook By Investing.com

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Nutanix stock jumps 15% on Q3 beat & strong outlook

Published May 24, 2023 18:00

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Nutanix stock jumps 15% on Q3 beat & strong outlook

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Nutanix (NASDAQ:NTNX) shares soared more than 15% after-hours following the company’s reported Q3 earnings, with EPS of $0.04 coming in better than the consensus estimate of $0.03. Revenue grew 11% year-over-year to $448.58 million, beating the consensus estimate of $433.12M.

ACV billings were up 17% year-over-year to $240M. Annual Recurring Revenue (ARR) was $1.47 billion, representing a 32% year-over-year growth.

“Our business performed well in the third quarter against an uncertain macro backdrop, as the value proposition of our cloud platform continued to resonate with customers,” said CEO Rajiv Ramaswami.

For Q4/23, the company expects revenue in the range of $470-$480M, above the consensus of $452.24M. ACV billings are seen at $240–$250M.

For the full year, the company expects revenue in the range of $1.84-$1.85B, better than the consensus of $1.8B. ACV billings are seen at $915–$925M.

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