Key TakeawaysArista Networks shares jumped in late trading on Tuesday after the cloud networking company topped quarterly estimates and provided a better-than-expected current-quarter outlook.The company's quarterly results were driven by growing demand for AI networking solutions that connect cloud and data center infrastructure.The company also announced a $1.2 billion share repurchase program.Monitor the $290 level where Arista shares may encounter resistance from a trendline linking a series of price ac ...

Arista Networks, Inc. (NYSE:ANET) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Company Participants Liz Stine - Director of IR Jayshree Ullal - Chairperson and CEO Chantelle Breithaupt - CFO Ken Duda - CTO Anshul Sadana - COO Conference Call Participants Samik Chatterjee - JPMorgan George Notter - Jefferies Ben Reitzes - Melius Research Amit Daryanani - Evercore ISI Antoine Chkaiban - New Street Research James Fish - Piper Sandler Victor Chui - Raymond James Meta Marshall - Morgan Stanley Ben Bol ...

Group 1: Earnings Performance - Arista Networks reported quarterly earnings of $1.99 per share, exceeding the Zacks Consensus Estimate of $1.74 per share, and up from $1.43 per share a year ago, representing an earnings surprise of 14.37% [1] - The company posted revenues of $1.57 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 1.26%, compared to year-ago revenues of $1.35 billion [1] - Over the last four quarters, Arista Networks has consistently surpassed consensus EPS and revenue estimates [1] Group 2: Stock Performance and Outlook - Arista Networks shares have increased approximately 18.4% since the beginning of the year, outperforming the S&P 500's gain of 8.6% [2] - The company's earnings outlook is favorable, with a current consensus EPS estimate of $1.84 on $1.61 billion in revenues for the coming quarter, and $7.53 on $6.58 billion in revenues for the current fiscal year [4] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [4] Group 3: Industry Context - The Communication - Components industry, to which Arista Networks belongs, is currently ranked in the top 18% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [5] - The performance of Arista Networks may also be influenced by the overall industry outlook, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value ANET New York Stock Exchange FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission Fil ...

Exhibit 99.1 Arista Networks, Inc. Reports First Quarter 2024 Financial Results Board of Directors Authorizes Additional $1.2B Stock Repurchase Program SANTA CLARA, Calif.- May 7, 2024 -- Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client to cloud networking for large data center/AI, campus and routing environments, today announced financial results for its first quarter ended March 31, 2024. First Quarter Financial Highlights "Arista is off to a strong start to 2024 with solid fi ...

Arista Networks, Inc.’s (ANET) shares have witnessed a steady uptrend over the past year, barring minor hiccups, driven by improved market demand across its portfolio on the back of a flexible business model and solid cash flow.Arista continues to benefit from strong momentum and diversification across its top verticals and product lines. The company has a software-driven, data-centric approach to help customers build their cloud architecture and enhance their cloud experience. It is well-poised for growth ...

Big Tech Quarterly Results - Most big tech companies, excluding Nvidia, have reported Q1 results [1] - Nvidia's earnings release is scheduled later in the month [1] - Two cloud leaders, Arista Networks and Twilio, are set to report Q1 results on May 7 [1] Arista Networks (ANET) - Arista Networks' stock has grown over +100% in the last year and +18% year-to-date [2] - The company has surpassed Zacks EPS Consensus in every quarter since its IPO in 2014 [2] - Q1 earnings are projected to soar 21% to $1 74 per share vs $1 43 in the comparative quarter [2] - Zacks Expected Surprise Prediction (ESP) indicates Q1 EPS could reach $1 81, 4% above consensus [2] - Q1 sales are expected to rise 15% to $1 55 billion [2] - Arista Networks has surpassed top-line expectations for 17 consecutive quarters since February 2020 [2] Twilio (TWLO) - Twilio has surpassed earnings expectations for 20 consecutive quarters [4] - Q1 EPS is expected to climb 27% to $0 60 compared to $0 47 in the comparative quarter [4] - Q1 sales are expected to be up 2% to $1 03 billion [4] - Twilio has surpassed sales estimates in every quarter since its IPO in 2016 [4] - Over the last year, Twilio's stock is up +16% despite dipping -16% in 2024 [4] Investment Considerations - Arista Networks and Twilio are ideal stocks for investors seeking steady growth [5] - Both companies have a long track record of exceeding expectations [5] - Their consistency makes them attractive ahead of earnings reports [5] - Favorable guidance could lead to stock price increases [5]

Investors are always looking for stocks that are poised to beat at earnings season and Arista Networks, Inc. (ANET) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Arista is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good ...

We are in the second-half of the first-quarter earnings season. This week is the second busiest of this reporting cycle, as more than 1,900 companies are slated to report their quarterly financial numbers. Earnings results are so far better than expected.Meanwhile, a few U.S. corporate bigwigs are set to beat on earnings this week. A handful of them currently carry a favorable Zacks Rank. The combination of a favorable Zacks Rank and an earnings beat should drive their stock prices in the near term.As of Ma ...

In the latest trading session, Arista Networks (ANET) closed at $255.21, marking a -0.53% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.34% for the day. On the other hand, the Dow registered a gain of 0.23%, and the technology-centric Nasdaq decreased by 0.33%.The cloud networking company's shares have seen a decrease of 11.79% over the last month, not keeping up with the Computer and Technology sector's loss of 4.23% and the S&P 500's loss of 4.05%.The invest ...