Arista Networks Inc reports results for the quarter ended in March - Earnings Summary

Arista Networks

08/05/2024 01:36

* Arista Networks Inc  ANET.N  reported quarterly adjusted
earnings of $1.99​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of $1.43.  The mean expectation of twenty
one analysts for the quarter was for earnings of $1.74 per
share. Wall Street expected results to range from $1.65 
to $1.97 per share.
    * Revenue rose 16.3% to $1.57 billion from a year ago;
analysts
expected $1.55 billion. 
    * Arista Networks Inc's reported EPS for the quarter was
$1.99​.
    * The company reported quarterly net income of $637.69
million.
    * Arista Networks Inc shares had fallen by 3.8% this
quarter and
gained 18.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 4% in
the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 19 "strong buy" or "buy," 6
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the
communications &
networking peer group is also "buy"

Wall Street's median 12-month price target for Arista Networks
Inc is $306.00 
This summary was machine generated from LSEG data May 8 at 12:36
a.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.74           1.99           Beat
 Dec. 31 2023      1.70           2.08           Beat
 Sep. 30 2023      1.58           1.83           Beat
 Jun. 30 2023      1.44           1.58           Beat