The global hybrid cloud market is expected to grow at 20% CAGR to reach $262.4 billion by 2027. Enterprise cloud computing player Nutanix (Nasdaq: NTNX) is cashing in on this growth by expanding its presence in international markets through partnerships and new products. Nutanix's Financials For the second quarter of the year, revenues grew 18% to $486.5 million, ahead of the market's forecast of $463.9 million. ACV billings grew 23% to $267.6 million. By segment, Nutanix's subscription revenues grew 20.3% to $450.95 million, while non-portable software revenue fell 25.2% to $10.88 million. Hardware revenue fell 29.8% to $1.23 million, and professional services revenue grew 6.3% to $23.44 million. Nutanix's results were clouded by their recent discovery that the evaluation software that they have been using from one of its third-party providers was instead being used for interoperability testing, validation, and customer proof-of-concept over a multi-year period. Nutanix's