Nutanix (NASDAQ: NTNX) reported fourth-quarter fiscal 2024 non-GAAP earnings of 27 cents per share, which surpassed the Zacks Consensus Estimate by 35% and increased 12.5% year over year.
Nutanix's revenues climbed 11% year over year to $548 million, beating the Zacks Consensus Estimate by 2.02% and the guided range of $530-$540 million.
The top line was primarily driven by growth in NTNX's core hyper-converged infrastructure software and the solid adoption of its new capabilities. Nutanix continues to witness a strong adoption of its hybrid multi-cloud solutions across Fortune 100 and Global 2000 companies.
NTNX noted that the average contract term length in the fiscal fourth quarter was 3.1 years, 0.1 years higher than the fiscal third quarter.
During the fiscal fourth quarter, Nutanix's Annual Contract Value (ACV) billings jumped 21% to $338 million, which was above the guided range of $295-$305 million.
Nutanix Price, Consensus and EPS Surprise
Nutanix price-consensus-eps-surprise-chart | Nutanix Quote
Top-Line Details of NTNX
Product revenues (48.5% of total revenues) increased 10.6% year over year to $265.9 million. Support, entitlements & other services ...
