Nutanix Vaults 20% in Wake of VMware Buyout
In announcing its earnings results, Nutanix has continued its strong run in the wake of rival VMware's purchase by Broadcom, indicating it is having success converting VMware customers that may not like trends under its new owner. This morning, Nutanix shares soared 20% after reporting strong earnings after the market close on Wednesday.
Nutanix shows it is capitalizing on several trends, including the use of hybrid and multicloud infrastructure for private clouds—as well as some of the turmoil caused by Broadcom's VMware price increases and licensing changes, which have angered many VMware end users.
“We saw good growth in our pipeline of larger deals as we shifted our focus up-market and saw increased engagement from prospects looking for alternatives to their existing infrastructure solutions,” said CEO Rajiv Ramaswami, CEO of Nutanix, on the company's earnings call.
A Look at Nutanix's Numbers
Nutanix reported fiscal fourth-quarter results that exceeded analyst expectations. The company also provided positive guidance for fiscal 2025. The company posted adjusted earnings per share of $0.34, better than the consensus estimate of $0.20. Revenue for the quarter came in at $548 million, beating analyst estimates of $537 million.
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