By Jabin Bastian
Publication Date: 2026-05-29 02:30:00
What happened?
Shares of hybrid multi-cloud computing company Nutanix (NASDAQ:NTNX) rose 6.5% in afternoon trading after it reported first-quarter results that topped analyst estimates, as investors appeared to focus on strong current performance despite a weaker-than-expected forecast.
For the quarter, Nutanix posted non-GAAP earnings of $0.47 per share on revenue of $703.1 million, beating Wall Street expectations of $0.35 in earnings and $686.3 million in revenue. The positive sentiment was likely driven by strong forward-looking indicators, with year-on-year revenue growth of 25.3%, significantly above estimates. Annual recurring revenue, a key metric for subscription-based businesses, also increased a healthy 14.7%.
However, the company’s revenue guidance for the upcoming second quarter came in slightly below analyst projections. Overall, investors seemed to weigh strong gains in earnings and revenue more than weak near-term…
