Nutanix exceeded expectations in the fourth quarter of its fiscal year. The stock price jumped 20 percent in after-hours trading. The company forecasted promising results for the first quarter of the coming fiscal year.
Nutanix seems to be doing better than most. Various tech companies posted disappointing results over the past quarter, but Nutanix’ report is promising. Nutanix said the quarterly results were favorable and ultimately made for an excellent fiscal 2022.
Nutanix posted revenue of $385.5 million (€384 million) in the fourth quarter of its fiscal year, one percent down from the same period last year. Despite the slight decrease, Nutanix is pleased with the results. Annual revenue totaled over $1.5 billion dollars, a 13 percent increase from fiscal 2021.
Expectations for the coming fiscal year are favorable, Nutanix indicates. Whereas many others lowered expectations, Nutanix anticipates revenue between $410 million and $415 million for the fiscal first quarter of 2023. Nutanix expects yearly revenue between $1.77 billion and $1.78 billion.