Arista Networks Beats Q1 Forecasts, Shares Fall, Plans $1.2B Buyback

Arista Networks reported its Q1 earnings with an adjusted EPS of $1.99, surpassing the estimated $1.74, and posted sales of $1.571 billion, also exceeding the forecast of $1.549 billion. Despite the positive earnings report, Arista's shares declined. The company forecasts Q2 revenues to be between $1.62 billion and $1.65 billion, aligning with estimates. Additionally, Arista Networks has authorized an additional $1.2 billion for share repurchases and has a market cap of $86.47 billion.