Newsletter
CoinSharks
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services
No Result
View All Result
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services
No Result
View All Result
CoinSharks
No Result
View All Result
Home NYSE

Arista Networks Exceeds Expectations with First-Quarter Results

The Megalodon by The Megalodon
May 1, 2023
in NYSE
0
Arista Networks Exceeds Expectations with First-Quarter Results
389
SHARES
1.8k
VIEWS
Share on FacebookShare on Twitter

Arista Networks (ANET), a company that produces cloud computing network gear, announced its first-quarter earnings and revenue after the market closed on Monday. The results exceeded analyst estimates, but the news caused Arista stock to fall.

For the three months ending March 31, Arista’s earnings rose by 70% to $1.43 per share, exceeding the estimated $1.35 per share. Meanwhile, the revenue surged by 54% to $1.35 billion, surpassing the forecasted $1.31 billion. In comparison, the company’s earnings were 84 cents per share on revenue of $877 million for the same period the previous year.

Related articles

Arconic to be acquired by Apollo for approximately $3 billion

Arconic to be acquired by Apollo for approximately $3 billion

May 4, 2023
SHOP Stock Skyrockets as Shopify Beats Earnings Expectations and Sells Logistics Business to Flexport

SHOP Stock Skyrockets as Shopify Beats Earnings Expectations and Sells Logistics Business to Flexport

May 4, 2023

For the June quarter, Arista predicted revenue between $1.35 billion and $1.4 billion, which is higher than the estimated $1.35 billion.

Despite the good news, ANET stock fell 3.2% to almost 155 in extended trading on the stock market on the same day. Some analysts have expressed concerns about the valuation of ANET stock, as they expect the company’s sales growth to slow down moderately in 2024 and 2025.

Before the earnings report, ANET stock had risen by nearly 32% in 2023. Arista’s main customers are Microsoft (MSFT) and Facebook-parent Meta Platforms (META). Arista sells switches that increase communication speed among racks of computer servers in data centers, and its primary competitors are Cisco Systems (CSCO) and Juniper Networks (JNPR).

According to analysts, Arista is gaining market share in the “enterprise” market, which includes large companies, government agencies, and educational institutions.

Share156Tweet97

Related Posts

Arconic to be acquired by Apollo for approximately $3 billion

Arconic to be acquired by Apollo for approximately $3 billion

by The Megalodon
May 4, 2023

Arconic Corp., a manufacturer of aluminum products, is set to be acquired by Apollo Global Management Inc. for roughly $3...

SHOP Stock Skyrockets as Shopify Beats Earnings Expectations and Sells Logistics Business to Flexport

SHOP Stock Skyrockets as Shopify Beats Earnings Expectations and Sells Logistics Business to Flexport

by The Megalodon
May 4, 2023

Shopify, the Canadian e-commerce company, has reported first-quarter earnings that beat analyst estimates. The company earned one cent per share...

An Everyday Investor Turned Billionaire Thanks to Berkshire Hathaway Stock Purchased in the 80s

An Everyday Investor Turned Billionaire Thanks to Berkshire Hathaway Stock Purchased in the 80s

by The Megalodon
May 3, 2023

Horejsi, a self-made billionaire, owes his success to one smart investment that changed his life. In the 1960s, he joined...

Estée Lauder lowers its projection due to China’s slow recovery in travel

Estée Lauder lowers its projection due to China’s slow recovery in travel

by The Megalodon
May 3, 2023

Estée Lauder has revised its annual sales forecast for the third time in six months due to a slow recovery...

Carnival’s CEO Rules Out Stock Issuance for Debt Repayment

Carnival’s CEO Rules Out Stock Issuance for Debt Repayment

by The Megalodon
May 3, 2023

New CEO of Carnival Corp., Josh Weinstein, believes that the cruise company is due for a different view from investors,...

Load More
  • Trending
  • Comments
  • Latest
Kaspersky reports a 40% increase in crypto phishing attacks within a year

Kaspersky reports a 40% increase in crypto phishing attacks within a year

April 17, 2023
Investors Must Be Aware of These 3 Points from the C3.ai Report by Short-Sellers

Investors Must Be Aware of These 3 Points from the C3.ai Report by Short-Sellers

April 18, 2023
THORChain Halts Mainnet Due to Potential Network Vulnerability Reports

THORChain Halts Mainnet Due to Potential Network Vulnerability Reports

March 29, 2023
XRP Price Nears ‘Sell the News’ Moment Following a 20% Weekly Gain in the Crypto Market

XRP Price Nears ‘Sell the News’ Moment Following a 20% Weekly Gain in the Crypto Market

March 28, 2023
Protecting Your Crypto: The Importance of AML Frameworks in Web3

Protecting Your Crypto: The Importance of AML Frameworks in Web3

President Biden Proposes Phased-In 30% Tax on Cryptocurrency Mining Electricity Usage

President Biden Proposes Phased-In 30% Tax on Cryptocurrency Mining Electricity Usage

Explaining the Reasons for the Recent Downturn in Ethereum (ETH) Price: A Macro Analysis

Explaining the Reasons for the Recent Downturn in Ethereum (ETH) Price: A Macro Analysis

Breaking Barriers: Women in Web3 Leading the Charge for Diversity and Inclusion

Breaking Barriers: Women in Web3 Leading the Charge for Diversity and Inclusion

US district judge refers FTX independent examiner issue to appellate court

US district judge refers FTX independent examiner issue to appellate court

May 31, 2023
Class-Action Lawsuit Filed Against Bancor DAO for Alleged Failure to Deliver on Impermanent Loss Protection Promises

U.S. prosecutors state that if the Bahamas raises objections, certain SBF charges will be dropped

May 31, 2023
Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

May 31, 2023
AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

May 31, 2023
  • Premium Services
  • Terms of Service
  • Privacy Policy

All Rights Reserved. CoinSharks.

No Result
View All Result
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services

All Rights Reserved. CoinSharks.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.