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Arista Networks has reported its quarterly earnings, surpassing analysts' expectations. The company achieved a revenue of $1.81 billion, reflecting a 20.01% year-over-year increase, and an earnings per share (EPS) of $2.40, which is a 31.15% increase from the previous year. These figures exceeded the anticipated revenue of $1.74 billion and EPS of $2.08, beating by $71 million and $0.32 respectively. Despite the strong performance, Arista's stock fell by 5% in pre-market trading as investors considered the size of the Q3 beat and the company's guidance for 2024. The guidance, while strong due to AI demand, was perceived as somewhat conservative.
.@AristaNetworks beats expectations and offers strong guidance on AI demand https://t.co/06qGkGWRAO @SiliconANGLE @Mike_Wheatley “That said, the guidance for the current quarter was a tad conservative, and may have raised some...” #Earnings https://t.co/pQ6JepDoZO
.@AristaNetworks beats expectations and offers strong guidance on AI demand https://t.co/laaxD8axno @SiliconANGLE @Mike_Wheatley “That said, the guidance for the current quarter was a tad conservative, and may have raised some...” - @holgermu @constellationr #Earnings
Arista Networks $ANET has released its quarterly earnings. Revenue of $1.81B (+20.01% YoY) beats by $71M. EPS of $2.40 (+31.15% YoY) beats by $0.32.
