MarketWatch First Take: Nutanix powers on in software transition

Nutanix Inc.’s strong quarterly results proved to naysayers that its transition to a more software-centric approach may be going better than expected.

Earlier Thursday, Nutanix NTNX, -0.69% reported a better-than-expected fiscal second quarter and outlook, even as it eliminates more hardware sales from its total revenue. The hybrid cloud company said late last year that it would no longer include hardware revenue that is passed on to the original equipment manufacturers in its financial statements.

Some investors have been nervous that revenue growth would slow further after last year’s strong double-digit rates with the company’s de-emphasis of hardware sales.

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