Nutanix, the hyperconverged infrastructure pioneer reported this afternoon Fiscal first quarter sales and earnings exceeded Wall Street expectations. The company’s outlook for sales for the current quarter and for the full year is also higher.

The report sent Nutanix shares 4% up in late trading.

CEO Rajiv Ramaswami called the quarterly results “a good start to our fiscal year” and added that the results “[demonstrate] strong sales and earnings improvement year-on-year. “

Ramaswami added, “We continued to achieve our goals of breaking even free cash flow in the second half of the 2022 calendar year and an ACV settlement CAGR of more than 25 percent by fiscal 2025.”

Nutanix CFO Duston Williams said the company had “record ACV payroll earnings, up 33 percent year-over-year and revenue growth of 21 percent year-over-year, our highest growth in over three years.” .

Williams added: “With …

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