Arista Networks Stock Slides On Q4 Earnings: The Details

Arista Networks Inc ANET reported fourth-quarter financial results Monday after the close. Here’s a look at the key metrics from the quarter.

Q4 Earnings: Arista said fourth-quarter revenue increased 20.8% year-over-year to $1.54 billion, which beat the consensus estimate of $1.53 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.08 per share, which beat analyst estimates of $1.70 per share.

“I am truly honored to be a part of the leadership team that will drive Arista 2.0 products and technology for enterprise, cloud and AI customers,” said Arista’s incoming CFO Chantelle Breithaupt.

“As we enter 2024, we remain focused on satisfying their most demanding requirements with our compelling, innovative networking solutions.”

Outlook: Arista sees first-quarter revenue in the range of $1.52 billion to $1.56 billion versus estimates of $1.53 billion. The company expects first-quarter adjusted gross margins of approximately 62%.

Management will hold a conference call to discuss these results at 4:30 p.m. ET.

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ANET Price Action: Arista shares were down 5.39% after hours at $265.99 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.