RTTNews | Sep 2, 2021 10:02AM EDT

10:01 Thursday, September 2, 2021 (RTTNews.com) - Shares of enterprise cloud platform provider Nutanix, Inc. (NTNX) are climbing more than 9% Thursday morning after reporting better-than-expected fourth-quarter results.

Net loss in the fourth quarter was $358.18 million or $1.68 per share compared with net loss of $185.35 million r $0.93 per share in the same quarter a year ago.

Excluding items, loss was $0.26 per share, that beat the average estimate of 15 analysts polled by Thomson Reuters at $0.42 per share loss.

Revenue for the quarter increased 19% year-over-year to $390.72 million. Te consensus estimate was for $362.88 million.

"In fiscal 2022, we expect our growing base of low-cost renewals will drive further improvements in top and bottom line performance," said Duston Williams, CFO of Nutanix.

NTNX touched a new high of $40.38 this morning, before slipping to trade at $41.08 currently.

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