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Nutanix Inc. NTNX shares rallied in the extended session Monday after the cloud-software company’s results and forecast topped Wall Street estimates. Nutanix shares, which had jumped more than 10% following the report, were last up 7.5% after hours, after closing flat at $28.47 in the regular session. The company reported a fiscal first-quarter loss of $265 million, or $1.31 a share, compared with a loss of $229.3 million, or $1.21 a share, in the year-ago period.

The adjusted loss, which excluded stock-based compensation expenses and other items, was 44 cents a share. Revenue declined to $312.8 million from $314.8 million in the year-ago quarter, while annual contract value billings rose 10% to $137.8 million. Nutanix defines ACV billings as “total annualized value of a contract, excluding amounts related to professional services and hardware.” Analysts surveyed by FactSet had forecast a loss of 57 cents a share on revenue of $298.4 million and ACV billings of $119.7 million. Nutanix expects ACV billings of $145 million to $148 million in the second quarter, while analysts had forecast $134.4 million.

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