Arista Networks up after upbeat forecast, revenue beat

Arista Networks

07/05/2024 22:22

** Shares of cloud networking solutions provider Arista
Networks  ANET.N  up 7.5% at $294.4 after hours
    ** Forecasts second-quarter revenue above Wall Street
estimates; sees revenue between $1.62 bln-$1.65 bln, the
mid-point of which is above LSEG estimates of $1.62 bln
    ** ANET's revenue for qtr ended March 31 rose 2% to $1.57
bln, beating analysts' estimate of $1.55 bln
    ** On an adj. basis, co earned $1.99/share vs $1.43 apiece
last year
    ** 19 of 26 brokerages rate the stock "buy" or higher, 6
"hold" and 1 "sell"; their median PT is $296.9- LSEG
    ** Stock has risen 16.3% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))