Arista Networks (ANET) reported first-quarter 2025 revenue of $2.01 billion, marking a 27.6% year-over-year increase and surpassing the $2 billion threshold for the first time. The company posted adjusted earnings per share (EPS) of $0.65, beating estimates, and guided second-quarter revenue to $2.1 billion, ahead of consensus estimates of $2.03 billion. Arista also announced a new share repurchase program of up to $1.5 billion. The strong revenue growth was driven by demand in AI, cloud, and enterprise sectors, with a gross margin of 64.1%. Fortinet (FTNT) reported first-quarter revenue of $1.54 billion, up 14% year-over-year, with adjusted EPS of $0.58, exceeding estimates by $0.05. The company achieved a record first-quarter operating margin of 34% and saw Unified SASE billings grow 18%, comprising 25% of total business. Fortinet's guidance for the second quarter and full year 2025 was in line with expectations. Cloudflare (NET) posted first-quarter revenue of $479.1 million, reflecting 20% year-over-year growth. The company reported an operating profit of $56 million, with an operating margin of 11.7%, and generated strong free cash flow. Akamai Technologies (AKAM) reported first-quarter revenue of $1.015 billion, up 3% year-over-year and 4% in constant currency. The company’s non-GAAP operating margin exceeded guidance at 30%, with non-GAAP EPS rising 4% year-over-year to $1.07.