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Nutanix shares fall as early results beat expectations


Nutanix Co
NTNX,
+0.52%

Shares rose then fell in an extended session on Monday after the hyperconverged infrastructure company beat expectations with preliminary results. Shares of Nutanix jumped as much as 6% after hours, then fell 3%, after gaining 0.5% in regular trading to close at $28.77. The company said preliminary second-quarter revenue rose to $486.5 million from $413.1 million in the previous quarter, and the annual contract value, or ACV, bill rose to $267.6 million. dollars from $217.9 million in the same period last year. Analysts surveyed by FactSet had forecast earnings of 11 cents a share on $465 million in revenue and $247.3 million in ACV bills. Nutanix forecasts ACV bills of $220 million to $225 million on revenue of $430 million to $440 million for the third quarter and ACV bills of $905 million to $915 million on revenue from $1,500. $8 billion to $1.81 billion for the year. Analysts had estimated ACV’s bills of $219.6 million on revenue of $425.3 million for the third quarter, and ACV’s bills of $904.2 million on revenue of $1,500. $78 billion for the year. The company has yet to file quarterly reports for the quarter ended January with the Securities and Exchange Commission because of an accounting issue that remains unresolved.

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