Nutanix shares rise as fiscal Q2 results top expectations, raises year view | ZDNet

Hyper-converged infrastructure pioneer Nutanix this afternoon reported fiscal Q2 revenue and profit that both topped Wall Street’s expectations, and raised its outlook for the full year. 

The report sent Nutanix shares slightly higher  in late trading. 

CEO Rajiv Ramaswami remarked that the quarter “reflected continued solid execution, demonstrating strong year-over-year top and bottom-line improvement.” 

Added Ramaswami, “We also see growing momentum towards adoption of hybrid multicloud models and believe the recent launch of our hybrid multicloud solution portfolio will strengthen our ability to deliver the solutions our customers need.””

Revenue in the three months ended in January rose to $413 million, yielding a net loss of 3 cents a share, excluding some costs.

Analysts had been modeling $407 million and negative 17 cents per share.

Nutanix’s “annual contract value billings,” or ACV billings, a key operating metric that measures how much the company invoices clients for in the quarter, out of the total value of contracts signed, rose by 37% to $217.9 million. 

For the current quarter, the company sees revenue of $395 million to $400 million. That compares to consensus for $401 million.

Nutanix expects ACV billings for the quarter of $195 million to $200 million.

For the full year, the company sees revenue in a range of $1.625 billion to $1.63 billion. That compares to a forecast offered in November for $1.615 billion to $1.63 billion, and consensus of $1.626 billion.

Nutanix expects ACV billings for the full year of $760 million to $765 million, up from the $740 million to $750 million forecast in November.