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Infrastructure pioneers Pure Storage, Nutanix beat quarterly revenue, profit expectations | ZDNet - TechiLive.in

Infrastructure pioneers Pure Storage, Nutanix beat quarterly revenue, profit expectations | ZDNet

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Flash storage systems pioneer Pure Storage, and converged infrastructure software pioneer Nutanix, this afternoon both reported quarterly revenue and profit that topped analysts’ expectations. 

Pure shares were unchanged in late trading, while Nutanix dipped by 3%

Pure CEO Charles Giancarlo said in prepared remarks that the company “expanded our strong growth trend from last quarter with balanced contributions across all aspects of our business.”

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Added Giancarlo, “Our growing customer base loves our Modern Data Experience consisting of the industry’s most advanced platforms, unique Evergreen and Pure as-a-Service models, with leading reliability and total cost of ownership.”

Pure’s revenue in the three months ended in April rose 12%, year over year, to $413 million, yielding break-even results on the bottom line.

Analysts had been modeling $406 million and a 6-cent loss per share.

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Pure noted this was the first quarter of double-digit revenue growth since the year-earlier quarter.

Pure’s subscription services revenue rose 35%, year over year, it said, to $162.8 million.

For the current quarter, the company sees revenue of $470 million, ahead of consensus for $470 million.

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Nutanix’s fiscal Q3 revenue in the three months ended in April rose 8.2%, year over year, to $345 million, yielding a net loss of 41 cents, the company reported.

Analysts had been modeling $335 million and a 49-cent loss per share.

Nutanix CEO Rajiv Ramaswami said he was “delighted” by the “strong quarterly results.”

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Added Ramaswami, “For the third quarter in a row, we delivered outperformance across all guided metrics and demonstrated our ability to execute consistently.

“We are also pleased with our progress on key priorities, including bolstering our ecosystem with our extended partnership with Lenovo, continued momentum with our core cloud software platform and an increased attach rate of our emerging products.”

Nutanix’s CFO, Duston Williams, remarked that Nutanix “saw record ACV billings, with growth accelerating to 18 percent year-over-year, while our disciplined spending delivered operating expenses below our guidance.”

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Nutanix’s ACV, or, annualized contract value, billings rose 18%, year over year, to $159.9 million. That was higher than the company’s forecast for $150 million to $155 million, and higher than consensus for $153 million.

Added Williams, “Our growing renewals pipeline will help to drive future top line growth, offer substantial sales and marketing efficiencies, and increase the predictability in our business.”

For the current quarter, the company sees ACV billings of $170 million to $175 million, ahead of consensus for $164 million.

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