Nutanix Shares Surge After Company Beats Q4 Earnings Estimates, Announces Buyback
Portfolio Pulse from Adam Eckert
Nutanix Inc's shares surged after the company reported better-than-expected Q4 earnings and announced a share buyback program. The company's Q4 revenue increased by 28% YoY to $494.21 million, beating the consensus estimate of $475.16 million. Adjusted earnings per share were 24 cents, surpassing analyst estimates of 16 cents. The company's board authorized a share repurchase program of up to $350 million. Nutanix expects Q1 revenue of $495 million to $505 million, against estimates of $487.22 million.
August 31, 2023 | 8:50 pm
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POSITIVE IMPACT
Nutanix's Q4 earnings beat estimates and the company announced a share buyback program, leading to a surge in its share price. The company's positive outlook for Q1 revenue also supports a positive short-term impact.
Nutanix's better-than-expected Q4 earnings and the announcement of a share buyback program have led to a surge in its share price. The company's positive outlook for Q1 revenue further supports a positive short-term impact on the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100