Arista Networks' Stock Jumps 14% Premarket on Results, Revenue Guidance

Tiger Newspress2023-08-01

Arista Networks forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in artificial intelligence (AI) applications.

Shares of the Santa Clara, California-based company surged nearly 14% in premarket trading on Tuesday.

The third-quarter forecast underscores robust demand from customers including Microsoft and Meta Platforms as they snap up Arista's latest 7800 series of switches designed to support AI workloads.

Both Microsoft and Meta said last week they would continue investing in data center infrastructure, including networking equipment, to support functionality centered on AI.

Arista sees third-quarter revenue in the range $1.45 billion to $1.5 billion, higher than analysts' estimate of $1.39 billion, according to Refinitiv data.

In the second quarter ended June 30, its revenue rose 39% to $1.46 billion, beating expectations of $1.38 billion. The company earned $1.58 per share, on adjusted basis, also higher than estimates of $1.44.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1124599886?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-08-01 17:01","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1124599886","market":"us","top_or_hot":-1,"title":"Arista Networks' Stock Jumps 14% Premarket on Results, Revenue Guidance","media":"Tiger Newspress","content":"<html><head></head><body><p>Arista Networks forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in artificial intelligence (AI) applications.</p><p style=\"text-align: start;\">Shares of the Santa Clara, California-based company surged nearly 14% in premarket trading on Tuesday.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0651e8948bf0fa50f033bbfa1f587452\" tg-width=\"794\" tg-height=\"624\"/></p><p>The third-quarter forecast underscores robust demand from customers including Microsoft and Meta Platforms as they snap up Arista&#39;s latest 7800 series of switches designed to support AI workloads.</p><p>Both Microsoft and Meta said last week they would continue investing in data center infrastructure, including networking equipment, to support functionality centered on AI.</p><p style=\"text-align: start;\">Arista sees third-quarter revenue in the range $1.45 billion to $1.5 billion, higher than analysts&#39; estimate of $1.39 billion, according to Refinitiv data.</p><p style=\"text-align: start;\">In the second quarter ended June 30, its revenue rose 39% to $1.46 billion, beating expectations of $1.38 billion. The company earned $1.58 per share, on adjusted basis, also higher than estimates of $1.44.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Arista Networks' Stock Jumps 14% Premarket on Results, Revenue Guidance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nArista Networks' Stock Jumps 14% Premarket on Results, Revenue Guidance\n</h2>\n\n<h4 class=\"meta\">\n\n2023-08-01 17:01 北京时间&nbsp;&nbsp;&nbsp;<strong>Tiger Newspress</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Arista Networks forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ANET","symbol_name":"Arista Networks, Inc.","start_time":0,"source_url":"","article_id":"1124599886","we_media_id":"1079075236","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1124599886","pubTimestamp":1690880515,"sourceInfo":null,"weMediaInfo":{"media_name":"Tiger Newspress","introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"summary":"Arista Networks forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in artific","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"ANET":"Arista Networks, Inc."},"translate_title":"Arista Networks的股票在业绩和收入指导下盘前上涨14%","themeId":"b6251d276d524a92990b019863be720e","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ANET":1.1},"content_text":"Arista Networks forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in artificial intelligence (AI) applications.Shares of the Santa Clara, California-based company surged nearly 14% in premarket trading on Tuesday.The third-quarter forecast underscores robust demand from customers including Microsoft and Meta Platforms as they snap up Arista's latest 7800 series of switches designed to support AI workloads.Both Microsoft and Meta said last week they would continue investing in data center infrastructure, including networking equipment, to support functionality centered on AI.Arista sees third-quarter revenue in the range $1.45 billion to $1.5 billion, higher than analysts' estimate of $1.39 billion, according to Refinitiv data.In the second quarter ended June 30, its revenue rose 39% to $1.46 billion, beating expectations of $1.38 billion. The company earned $1.58 per share, on adjusted basis, also higher than estimates of $1.44.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1124599886"}