Market Overview - Major U.S. indexes closed lower, with the Dow Jones Industrial Average down 1.34% to 49,451.98, the S&P 500 down 1.57% to 6,832.76, and the Nasdaq down 2.04% to 22,597.14 [1] Coinbase Global, Inc. - Coinbase stock closed down 7.90% at $141.09, with an intraday high of $153.20 and low of $139.36, within a 52-week range of $444.65 to $139.36 [2] Apple Inc. - Apple shares ended 5.00% lower at $261.73, trading between an intraday high of $275.72 and a low of $260.18, against a 52-week high of $288.61 and a low of $169.21 [2] - The decline contributed to a $500 billion loss across major tech companies due to concerns over memory shortages and shrinking margins at peers like Cisco, compounded by hardware cost pressures and AI-related disruptions [2] Applied Materials - Applied Materials declined 3.38% to $328.39, with an intraday range of $341.07 high and $325.56 low, sitting between a 52-week peak of $344.60 and a trough of $123.74 [3] - The stock rose 12.75% to $370.25 in after-hours trading after resolving a U.S. export probe with a $252 million settlement over past China shipments, allowing a focus on AI-driven chip tools and collaborations [3] Arista Networks, Inc. - Arista Networks fell 3.94% to $135.12, ranging from $138.50 high to $132.01 low intraday, within 52-week bounds of $164.94 and $59.43 [4] - The stock increased nearly 12.5% to $151.99 in extended trading [4] - For full-year 2025, Arista generated $9 billion in revenue and shipped a cumulative 150 million ports, with AI networking and campus expansion identified as key growth drivers [4] Rivian Automotive, Inc. - Rivian stock dropped 5.15% to $14.00, hitting an intraday high of $14.83 and low of $13.94, against a 52-week high of $22.69 and low of $10.36, but rose over 14% to $16.03 in after-hours trading [5] - Rivian reported fourth-quarter revenue of $1.29 billion, down from $1.73 billion a year earlier but slightly ahead of the $1.27 billion Street estimate [6] - Automotive revenue totaled $839 million, falling 45% year-over-year due to lower regulatory credit sales, fewer vehicle deliveries, and a lower average selling price, while software and services revenue surged 109% to $447 million [6] - The company posted a narrower-than-expected loss of 54 cents per share, beating estimates for a 68-cent loss, and generated $120 million in consolidated gross profit during the quarter [7] - Full-year revenue rose 8% to $5.39 billion, with CEO RJ Scaringe emphasizing 2025 as a year focused on execution and scaling the business [8]

分组1 - Arista Networks reported quarterly earnings of $0.82 per share, exceeding the Zacks Consensus Estimate of $0.75 per share, and up from $0.65 per share a year ago, representing an earnings surprise of +8.78% [1] - The company achieved revenues of $2.49 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 4.81%, compared to $1.93 billion in the same quarter last year [2] - Arista Networks has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] 分组2 - The stock has gained approximately 7.4% since the beginning of the year, outperforming the S&P 500, which has gained 1.4% [3] - The future performance of Arista Networks' stock will depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.75 on revenues of $2.44 billion, and for the current fiscal year, it is $3.30 on revenues of $10.71 billion [7] 分组3 - The Zacks Industry Rank indicates that the Internet - Software sector is currently in the bottom 44% of over 250 Zacks industries, which may impact stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors should monitor these revisions closely [5]

Arista Networks (NYSE:ANET) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Company ParticipantsAmit Daryanani - Senior Managing DirectorBen Reitzes - Managing Director, Partner, and Head of Technology ResearchChantelle Breithaupt - CFOJayshree Ullal - Chairperson and CEOKarl Ackerman - Managing Director of Semiconductors and Networking HardwareKenneth Duda - Founder and CTOMeta Marshall - Executive DirectorRudolph Araujo - VP of Investor AdvocacyRyan Koontz - Managing DirectorConference Call Participan ...

Financial Data and Key Metrics Changes - In Q4 2025, total revenues reached $2.49 billion, reflecting a year-over-year increase of 28.9% and exceeding guidance of $2.3 billion to $2.4 billion [18] - For the fiscal year 2025, total revenue was $9 billion, with a non-GAAP gross margin of 64.6% and an operating margin of 48.2% [6][22] - Net income for Q4 was $1.05 billion, marking the first time the company surpassed $1 billion in net income for a quarter [22] - Diluted earnings per share for Q4 was $0.82, up 24.2% year-over-year, while for the fiscal year, it was $2.98, a 28.4% increase [23] Business Line Data and Key Metrics Changes - Cloud and AI titans contributed 48% to annual customer sector revenue, while enterprise and financials accounted for 32%, and AI and specialty providers contributed 20% [7] - Services and subscription software represented approximately 17.1% of revenue in Q4, down from 18.7% in Q3 [18] - The core sector revenue was driven by high-performance switching, contributing 65% of total revenue [9] Market Data and Key Metrics Changes - International revenues for Q4 were $528.3 million, or 21.2% of total revenue, up from 20.2% in the previous quarter [19] - The company reported strong growth in both Asia and Europe, with international growth exceeding 40% annually [6] Company Strategy and Development Direction - The company aims for aggressive growth in AI networking, raising its 2026 revenue guidance to $3.25 billion for AI centers and maintaining a goal of $1.25 billion for cognitive campus and branch [27] - The strategy includes expanding into new markets and enhancing product offerings, particularly in AI and cloud networking [12][14] - The company is focused on maintaining its leadership in high-performance switching and expanding its partnerships with AI and cloud titans [9][64] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 25% annual growth in 2026, despite challenges related to supply chain constraints and rising costs [17][28] - The company is optimistic about the demand for networking solutions driven by AI and cloud technologies, indicating a growing total addressable market exceeding $100 billion [17] - Management acknowledged the impact of inflation and supply chain issues on operations but emphasized a commitment to innovation and customer satisfaction [16][28] Other Important Information - The company repurchased $620.1 million of its common stock in Q4 at an average price of $127.84 per share, with a total of $1.6 billion repurchased in fiscal year 2025 [23][24] - The total deferred revenue balance increased to $5.4 billion, with product deferred revenue rising by approximately $469 million compared to the previous quarter [26] Q&A Session Summary Question: What are the factors affecting the potential new 10% customers? - Management indicated that acceptance criteria and timing are critical factors, along with demand and supply chain considerations [33] Question: What is the cautious outlook for the rest of the year? - Management clarified that visibility is affected by customer CapEx and the timing of new product shipments, particularly related to AI [41] Question: Can you quantify the revenue and gross margin impact from memory dynamics? - Management acknowledged challenges in the memory market and indicated that while they are comfortable with their guidance, there may be price increases for certain products [50][51] Question: How much of the AI revenue guidance is based on scale-up networking opportunities? - Management noted that current configurations are a mix of scale-out and scale-up, with expectations for significant growth in AI networking [58] Question: How does the company plan to participate in the build-out of model builders' infrastructure? - Management highlighted the importance of network infrastructure for model builders and indicated plans to collaborate with cloud titans [64]

Arista Networks (NYSE:ANET) Q4 2025 Earnings call February 12, 2026 04:30 PM ET Speaker14Welcome to the fourth quarter and 2025 Arista Networks financial results earnings conference call. During the call, all participants will be in a listen-only mode. After the presentation, we will conduct a question-and-answer session. Instructions will be provided at that time. If you need to reach an operator at any time during the conference, please press the star key followed by zero. As a reminder, this conference i ...

Core Viewpoint - Arista Networks forecasts annual revenue exceeding Wall Street estimates, driven by consistent demand for its electronic hardware amid the growing data landscape [1] Group 1: Company Performance - Arista Networks is betting on steady demand for its electronic hardware, indicating confidence in its product offerings [1] - The company’s revenue forecast suggests a positive outlook for its financial performance in the upcoming year [1] Group 2: Industry Trends - The expanding presence of data is a key factor contributing to the demand for networking equipment, highlighting a trend in the industry towards increased reliance on electronic hardware [1]

Core Viewpoint - Arista Networks Inc. reported strong fourth-quarter earnings, exceeding analyst expectations, which led to a significant increase in stock price during extended trading hours [1][2]. Financial Performance - Quarterly earnings were reported at 82 cents per share, surpassing the Street estimate of 76 cents [2]. - Revenue for the quarter reached $2.49 billion, exceeding the analyst consensus estimate of $2.38 billion and showing an increase from $1.93 billion in the same period last year [2]. - The company achieved a milestone of shipping a cumulative total of 150 million ports, indicating strong momentum in its Arista 2.0 initiative [2]. Growth and Future Outlook - Arista reported profitable growth with total revenue of $9 billion, exceeding both AI networking and campus expansion goals [3]. - For the first quarter of 2026, the company expects revenue of approximately $2.6 billion, higher than the $2.45 billion analyst estimate [4]. - Non-GAAP gross margin is projected to be between 62% and 63%, with a non-GAAP operating margin of approximately 46% [4].

Exhibit 99.1 Arista Networks, Inc. Reports Fourth Quarter and Year End 2025 Financial Results SANTA CLARA, Calif.- February 12, 2026 -- Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client-to-cloud networking for large AI, data center, campus, and routing environments, today announced financial results for its fourth quarter and the full year ended December 31, 2025. • Revenue of $2.488 billion, an increase of 7.8% compared to the third quarter of 2025, and an increase of 28.9% from ...

Core Viewpoint - Arista's stock is experiencing a decline ahead of its earnings report, influenced by concerns raised from Cisco's recent report regarding the adverse effects of high memory prices on the industry [1] Company Summary - Arista Networks is facing a drop in its stock price as investors react to Cisco's earnings report, which has reignited fears about the impact of elevated memory costs on the company's financial performance [1]

Group 1 - Arista Networks (NYSE:ANET) is recognized as one of the top 11 communication equipment stocks favored by hedge funds [1] - Analyst Michael Genovese from Rosenblatt raised the price target for Arista Networks from $140 to $165, indicating a 20% upside potential at current levels while maintaining a Neutral rating [1][2] - The company is expected to announce its fourth-quarter results soon, with positive developments noted in recent wins and opportunities [2] Group 2 - Arista Networks specializes in high-performance, software- and data-driven client-to-cloud networking solutions, focusing on AI, data center, and routing architectures [4] - The company emphasizes low latency, automation, high-speed, and scalability, serving diverse market segments including cloud service providers, financial services, government, healthcare, education, and energy [4] - Recent developments in Microsoft's AI chip rollout are seen as beneficial for Arista, as it reduces dependency on Nvidia and supports Ethernet-driven scale-up for AI workloads [3]