Aug 4 : Arista Networks forecast third-quarter revenue above Wall Street estimates on Tuesday, betting on strong demand for its networking gear as companies expand their AI infrastructure.
The company has been expanding beyond its core cloud customer base into enterprise campus and branch networking to diversify its revenue.
Here are some details:
• Shares were up 3 per cent after the bell.
• Arista, which makes the high-speed computer networking equipment that powers big data centers for customers like Microsoft and Amazon, forecast third-quarter revenue of $3.3 billion, above analysts’ average estimate of $2.94 billion, according to LSEG data.
• The company also beat second-quarter expectations, posting revenue of $3.04 billion and adjusted earnings per share of $1.02, above analysts’ estimate of $2.82 billion and 88 cents per share, respectively
• It forecast third-quarter adjusted earnings per share in the range of $1.06 to $1.08, also above estimate of 91 cents.
