Earnings season continues to roll along, with a solid chunk of companies already posting quarterly results. The period has primarily remained positive, underpinned by strong results from the technology sector. We've also seen positive revisions trickle in for the upcoming period.Concerning the positivity, several companies, including Eaton (ETN) , Eli Lilly (LLY) , and Arista Networks (ANET) , all raised their outlooks, undoubtedly pleasing investors. Let’s take a closer look at each.EatonEaton posted EPS o ...

Mostly attributed to the Magnificent Seven, tech stocks have fueled the Q1 earnings season with total S&P 500 earnings now expected to be up 5% from the previous period.Although many of the technology-driven stocks in this week’s earnings lineup may not be household names there are quite a few that stand out after impressively surpassing their bottom line expectations.  Better still, two of these tech stocks have made the coveted Zacks Rank #1 (Strong Buy) list and now looks like an ideal time to invest aft ...

The rise of artificial intelligence (AI) has been a whirlwind of innovation and growth across numerous industries. That makes the case for the best data center stocks to buy. Demand for advanced data center infrastructure has skyrocketed in the last few years. The companies at the forefront of this technological wave are poised to capitalize on the exponential growth in data processing and storage. As AI models become more complex and demand increases exponentially, data centers form the bedrock for power c ...

The data-center switching company rallied after Q1 earnings and guidance allayed recent fears.Shares of data-center switch company Arista Networks (ANET 7.27%) rallied on Wednesday, gaining 7.2% as of 12:14 p.m. ET. Arista reported its first-quarter earnings last night, and they came in stronger than expected.Solid guidance and positive commentary around the company's artificial intelligence (AI) opportunity also quelled recent fears over competition.Management remains confident in AI In the first quarter, ...

Famed investor Jim Cramer is all praise for Jayshree Ullal – the chief executive of Arista Networks Inc (NYSE: ANET) after her company reported financial results for its first quarter last night. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.Cramer has been bullish on Arista NetworksCopy link to sectionArista Networks handily topped Street estimates for both profit and revenue in its first financial quarter. According to the Mad Money host: $ANET is ...

Arista Networks, Inc. (ANET) reported healthy first-quarter results with solid top and bottom-line growth year over year, driven by robust demand trends. Easing supply chain woes and steady customer additions backed by the company’s best-in-class portfolio strength ensured top-line expansion, while steady margin improvement contributed to earnings growth. Both the bottom and the top lines beat the respective Zacks Consensus Estimate.Net IncomeGAAP net income in the reported quarter improved to $637.7 millio ...

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 ...