Nutanix soars after revenue tops estimates

Nutanix shares jumped 12 percent in extended trading on Thursday after the developer of cloud storage and networking software reported third-quarter revenue that topped analysts' estimates.

Nutanix, which went public last year, generated sales growth of 67 percent, with new business coming from companies including Caterpillar , Volkswagen and Sprint . Corporations are flocking to Nutanix's hybrid technology as they manage the transition to the cloud while also keeping key pieces of their infrastructure in-house.

Revenue of $191.8 million topped the $186.6 million average analyst estimate, according to Yahoo Finance. The company's adjusted loss of 42 cents a share, compared with a 45-cent average estimate from analysts.

Nutanix rose $2.18 to $19.75 after the report. The stock debuted at $16 in September and more than doubled on their opening day to $37. Prior to Thursday's announcement, the shares were down 34 percent for the year.