Arista Networks perks up as AI spending buoys Q1 results, guidance [Seeking Alpha]
Arista Networks, Inc. (ANET)
Last arista networks, inc. earnings: 2/13 04:05 pm
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US:NASDAQ Investor Relations:
investors.arista.com/home/default.aspx
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Source: Seeking Alpha
For the period ending March 31, Arista earned an adjusted $1.99 per share as revenue rose 16.3% year-over-year to $1.57B. A consensus of analysts expected the company to earn $1.74 per share on $1.55B in revenue. “Arista is off to a strong start to 2024 with solid first quarter results,” said Jayshree Ullal, Chairperson and CEO of Arista Networks. “As we get ready to celebrate the 10th anniversary of our IPO in June, I am pleased with our progress in the Arista 2.0 journey as seen in breakthrough innovations, customer traction and building our next generation leaders.” Looking ahead, Arista Networks expects to generate sales between $1.62B and $1.65B, compared to estimates of $1.62B. Adjusted gross margin is forecast to be around 64% while adjusted operating margin is expected to be around 44%. Arista also said that it has finished its previous $2B share buyback program and its board of directors has approved an additional program to repurchase up to $1.2B worth of shares.
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ANET
Earnings
- 5/7/24 - Beat
ANET
Sec Filings
- 5/17/24 - Form 4
- 5/16/24 - Form 144
- 5/15/24 - Form 4
- ANET's page on the SEC website