Enterprise-software earnings painted a mixed picture, with NetApp and Nutanix trading sharply lower while Elastic advanced after their latest reports. NetApp posted fiscal first-quarter adjusted earnings of $1.55 a share, a penny ahead of estimates, on revenue of $1.56 billion. All-flash array revenue grew 6% to $893 million and billings rose for a seventh straight quarter. The storage vendor projected second-quarter revenue roughly in line with Wall Street but at the lower end of expectations, sending the stock down about 8% in pre-market trading. Nutanix delivered a stronger headline beat, reporting fourth-quarter revenue of $653.3 million, up 19%, and adjusted earnings of $0.37 a share. Annual recurring revenue reached $2.22 billion. Management guided full-year revenue to $2.90-$2.94 billion, above consensus, yet the shares fell more than 10% after a key subscription-sales indicator came in light and investors focused on slower contract growth. Search-AI specialist Elastic moved the other way. First-quarter revenue climbed 20% to $415 million, with cloud revenue accelerating 24%. Adjusted earnings of $0.60 a share beat by $0.18, and the company lifted its full-year sales and profit outlook. The stock jumped in late trading, helping spark a broader rebound in beaten-down software names.
$ESTC Elastic Stock Surges After Earnings Beat. Data Software Stocks Rallying Amid AI Debate. https://t.co/JDTvs3dk1X
$ESTC https://t.co/yxihZc5p7p
$ESTC | Elastic Q1 Earnings Highlights 🔹 Revenue: $415M (Est. $397.2M) 🟢; +20% YoY 🔹 Adj EPS: $0.60 (Est. $0.42) 🟢; flat YoY FY26 Guide: 🔹 EPS: $2.29–$2.35 (Est. $2.28) 🟡 🔹 Revenue: $1.68–$1.69B (Est. $1.67B) 🟢 Q2’26 Guide: 🔹 EPS: $0.56–$0.58 (Est. $0.42) 🟢 🔹