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Arista Networks shares were somewhat little successful precocious trading Monday aft the networking infrastructure supplier posted better-than-expected 2nd 4th results.
For the quarter, Arista (ticker: ANET) reported gross of $707.3 million, up 31% from a twelvemonth ago, and up of some the company’s guidance scope of $675 cardinal to $695 million and Wall Street statement astatine $687 million. Non-GAAP profits were $2.72 a share, supra the statement astatine $2.54 a share, and up from $2.11 a stock a twelvemonth ago. Under mostly accepted accounting principles, the institution earned $197 million, oregon $2.47 a share. Non-GAAP gross borderline was 65.2%, supra the company’s projected scope of 63% to 65%.
For the September quarter, Arista is projecting gross of $725 cardinal to $745 million, which is supra the Street astatine $697 million. The institution again projects non-GAAP gross borderline ibn the 63% to 65% range.
“Our grounds 2nd 4th reflects continued momentum and diversification crossed our apical verticals and product-lines,” Arista CEO Jayshree Ullal said successful a statement. “We are connected the cusp of web bundle and data-driven translation and look guardant to delighting galore much customers.” The main fiscal officer, Ita Brennan, added that the institution “continued to enactment with customers and partners to navigate a challenging proviso environment.”
There’s nary wide crushed for the market’s lukewarm reception to the numbers, different than Brennan’s remark alluding to the choky situation for components. Arista shares, which were up 30% for the twelvemonth to day done the extremity of Monday’s regular session, person slipped 0.5% to $375.48 successful precocious trading.
Write to Eric J. Savitz astatine eric.savitz@barrons.com
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