What happened
Shares of Nutanix (NTNX -0.91%) have surged today, up by 11% as of 1:15 p.m. EDT, after the company reported solid fiscal third-quarter earnings results.
So what
The IT hyperconverged infrastructure company posted revenue of $191.8 million, up 67% year over year, and a non-GAAP net loss of $60.8 million, or $0.42 per share. Both top- and bottom-line results came in better than the consensus estimates of $187 million in revenue and an adjusted loss of $0.45 per share. Billings jumped 47% to $234.1 million, and Nutanix ended the quarter with nearly 6,200 customers.
Image source: Getty Images.
Now what
Investors reacted much more favorably this time compared to last quarter's plunge. In a statement, CEO Dheeraj Pandey said, "We continue to execute on our strategy of building a cloud operating system that provides our customers maximum choice of hardware platforms." Nutanix also recently partnered with IBM to develop a turnkey hyperconverged solution that leverages Nutanix software with IBM Power Systems.
In terms of guidance, revenue in the fiscal fourth quarter is expected in the range of $215 million to $220 million, with non-GAAP gross margin of roughly 58%. Non-GAAP net loss per share should be $0.38.
