Nutanix (NTNX) shares are surging Thursday after the company reported fiscal fourth quarter earnings that beat estimates on both revenue and profit.
Revenue came out at $547.95 million, surpassing analyst expectations of $536.82 million. Adjusted earnings per share reached $0.27 during the quarter, topping projected gains of $0.20 per share. The cloud operator also provided guidance that was above estimates.
Nutanix CEO Rajiv Ramaswami joins Catalysts to discuss what drove the company’s strong performance as Wall Street becomes increasingly bullish on the stock.
Ramaswami attributes the quarter’s success to “fundamentally [having] a platform that is great for running critical applications for customers around the world.” He notes that companies turn to Nutanix “to transform themselves” amid numerous macroeconomic headwinds.
He also highlights partnerships with industry giants — like Dell Technologies (DELL), Wells Fargo (WFC), and Cisco Systems (CSCO) — new innovations, and the introduction of generative AI: “All of this has… helped us beat our guided estimates for the year and for the quarter.”
Regarding the rise of generative AI, Ramaswami acknowledges that “it’s very early days” for this technology in production environments. He emphasizes that companies need a simple platform to run artificial intelligence models, maintain and secure their IP, and operate where their data is located, noting that Nutanix offers “a platform that helps all of this run in a very simple way.”
“We want to be the leading platform for companies to run their applications and manage their data anywhere,” Ramaswami tells Yahoo Finance, adding that this vision extends beyond just generative AI to include “all the applications in the enterprise.”
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This post was written by Angel Smith
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https://finance.yahoo.com/video/nutanix-wants-leading-platform-running-155445311.html