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Nutanix Trades Higher On Q1 Sales Beat

Jason Shubnell

Nutanix Inc (NASDAQ: NTNX) shares are trading sharply higher following the release of its fiscal first-quarter results.

Nutanix reported adjusted quarterly losses of 71 cents per share, which beat the analyst consensus estimate by 4 cents. The company reported quarterly sales of $314.8 million, which beat the analyst consensus estimate of $306.41 million. This is an increase over sales of $313.283 million the same period last year.

Nutanix sees 2020 sales of $1.3-$1.4 billion and second-quarter adjusted EPS at a loss of 70 cents.

"Our solid Q1 performance, particularly in the Americas, gives us confidence that we have the right formula for global sales leadership as demonstrated by improved productivity and sales hiring over the last six months," said Dheeraj Pandey, Chairman, Founder and CEO of Nutanix. "We have also seen momentum in key areas of our business, including the transition to subscription and an improved 28% attach rate of new products onto our core HCI platform."

Nutanix's stock closed the regular session lower by 1.8% at $28.75 and traded higher by more than 12% in Monday's after-hours session.

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