Arista Networks Inc reports results for the quarter ended in September 30 - Earnings Summary

Arista Networks

08/11/2024 04:36

* Arista Networks Inc  ANET.N  reported quarterly adjusted
earnings of $2.40​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of $1.83.  The mean expectation of
nineteen analysts for the quarter was for earnings of $2.08 per
share. Wall Street expected results to range from $2.00 
to $2.34 per share.
    * Revenue rose 20% to $1.81 billion from a year ago;
analysts
expected $1.74 billion. 
    * Arista Networks Inc's reported EPS for the quarter was
$2.33​.
    * The company reported quarterly net income of $747.94
million.
    * Arista Networks Inc shares had risen by 10.2% this
quarter and
gained 79.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 19 "strong buy" or "buy," 4
"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 $380.00 
This summary was machine generated from LSEG data November 8 at
04:36 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
 Sep. 30 2024      2.08           2.40           Beat
 Jun. 30 2024      1.95           2.10           Beat
 Mar. 31 2024      1.74           1.99           Beat
 Dec. 31 2023      1.70           2.08           Beat