Nutanix Stock Jumps After Earnings Beat

Nutanix Inc. shares gained in late trading Thursday after the tech company reported better-than-expected financial results. Nutanix, which specializes in an approach called hyperconvergence that helps manage hybrid-cloud environments, reported a third-quarter loss of $112 million, or 78 cents a share, on sales of $191.8 million. After adjustments for stock-based compensation and other effects, Nutanix claimed a loss of 42 cents a share. Analysts on average had expected Nutanix to report an adjusted loss of 45 cents a share on sales of $186.6 million, according to FactSet, and Nutanix had forecast an adjusted loss of 45 cents to 48 cents a share. The company also guided for larger revenue than expected in the current quarter, forecasting revenue of $215 million to $220 million, while analysts expected $204.7 million on average, according to FactSet. Nutanix went public late in 2016 and experienced large initial gains, but has fallen closer to the IPO price of $16 a share of late. Nutanix stock initially jumped nearly 10% in late trading after the results were released, but gains settled down to closer to 6% later in the after-hours session.