|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||42.26 - 45.23|
|52-week range||23.49 - 45.23|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Nutanix (NTNX) shares are seeing a boost this morning after topping fiscal first-quarter earnings estimates. Nutanix CEO Rajiv Ramaswami joins Yahoo Finance Live to weigh in on the factors that have driven the cloud computing company's growth. Ramaswami states plainly that “every company is a tech company” and thus data management and applications to better manage AI functions are increasingly essential. Ramaswami teases the rolling out of a new platform, GPT-in-a-Box, which would allow companies to capitalize on AI. In terms of revenue, Ramaswami predicts this platform is “fundamental to every customer” due to the hastening adoption of AI. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Shares of Nutanix (NASDAQ: NTNX) climbed as much as 9.2% early Thursday, then settled to trade up 3.5% as of 2:30 p.m. ET after the cloud-computing and hyperconverged-infrastructure (HCI) specialist announced strong quarterly results. For its fiscal first quarter in 2024 (ended Oct. 31, 2023), Nutanix's revenue grew 18% year over year to $511.1 million, translating to adjusted (non-GAAP) net income of $85 million, or $0.29 per share. "We delivered a solid first quarter financial performance against an uncertain macro backdrop reflecting the value our customers see in the Nutanix Cloud Platform and the strength of our subscription business model," stated Nutanix CEO Rajiv Ramaswami.
Nutanix (NTNX) delivers steady growth in ACV billings in first-quarter fiscal 2024, primarily driven by continued demand for its hybrid multi-cloud software solutions.