Nutanix Reports Strong Q2 Preliminary Results

On Monday, Nutanix rose after the company reported its preliminary second-quarter financial results, which beat the analysts’ expectations.

Its stock price jumped by 0.52% to $28.77 per share on March 06. However, it is anticipated to decrease by -5.46% to $27.20 apiece in the upcoming session.

The earnings per share of Nutanix went up to $0.11, in line with the market forecast, topping the previous $0.03 data. 

Likewise, its revenue improved by $486.50 million, higher than the $464.97 estimates. As a result, it is better than the prior $433.61 figures.

Moreover, as investors waited for Nutanix to deliver full financial results, it managed to offer guidance for the third quarter. The company forecasts annual contract value (ACV) billings of $220.00 million to $225.00 million. Also, they look forward to a revenue between $430.00 million and $440.00 million. 

The firm’s statistics are higher than the analysts’ anticipations of $219.60 million in ACV billings and $425.30 million in revenue.

For the whole year, the entity is guiding for income between $1.80 billion and $1.81 billion, compared to the consensus estimate of $1.78 billion.

According to the CFO of Nutanix, Rukmini Sivaraman, their Q2 results showed a good balance of topline performance and profitability. This equates to 23.00% year-on-year ACV billings and a record free cash flow margin.

Cloud Platform of Nutanix to Assist Healthcare

In India, Nutanix works with different healthcare providers. These units include Apollo Hospitals, Max Healthcare KMC Chengannur, and Sakra World hospital.

Since they have essential experience in the sector, the company firmly believes that hybrid multi-cloud is important. In addition, it is vital to improve the healthcare industry’s digital age, which will offer better long-term health management.

For instance, Apollo Hospitals quickly deployed its applications among 72 branches. As a result, the hospital was able to make a sound framework capable of scaling in size and performance in the future. They did it by shifting from legacy infrastructure to the Nutanix Cloud Platform.