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Nutanix jumps 16% on Q4 beat & solid guidance, announces $350M buyback
Nutanix jumps 16% on Q4 beat & solid guidance, announces $350M buyback By Investing.com
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Published Aug 31, 2023 05:56PM ET
(C) Reuters. Nutanix jumps 16% on Q4 beat & solid guidance, announces $350M buyback
Nutanix (NASDAQ:NTNX) shares surged more than 16% after-hours following the company’s reported Q4 results, with EPS of $0.24 coming in better than the consensus estimate of $0.16. Revenue increased 28% year-over-year to $494.2 million, compared to the consensus estimate of $475.24M.
“Our consistent execution over the course of the year against an uncertain macro backdrop is a testament to the benefits of our subscription model, as well as the value our customers see in the Nutanix Cloud Platform as they look to modernize their IT footprints and implement hybrid multicloud operating models,” said CEO Rajiv Ramaswami.
For Q1/24, the company expects revenue in the range of $495-$505M, better than the consensus of $487.2M. ACV billings are expected to be in the range of $260-$270M.
For the full year, the company expects revenue of $2.085-$2.115 billion, compared to the consensus of $2.08B. ACV billings are expected to be in the range of $1.075-$1.095B.
Furthermore, the company announced that its Board of Directors has authorized the repurchase of up to $350M of its Class A common stock.
Nutanix jumps 16% on Q4 beat & solid guidance, announces $350M buyback
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