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Why Nutanix Stock Surged Today

Jeremy Bowman, The Motley Fool
·2 min read
Why Nutanix Stock Surged Today

Shares of Nutanix (NASDAQ: NTNX) were climbing today after the hyperconverged infrastructure specialist posted impressive preliminary results for the third quarter. Nutanix said it expects revenue for the third quarter, which ended April 30, to be between $312 million and $317 million, representing 8% to 10% growth, and better than the analyst consensus at $307.4 million. Total revenue growth continues to be hurt by the company's transition to a subscription business and is expected to accelerate as hardware makes up a smaller percentage of its business.

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