Arista Networks, Inc. (NYSE:ANET) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET Company Participants Liz Stine - Director of Investor Relations Jayshree Ullal - Chairperson & Chief Executive Officer John McCool - Chief Platform Officer & Senior Vice President of Engineering and Operations Chantelle Breithaupt - Chief Financial Officer Conference Call Participants Samik Chatterjee - JPMorgan Antoine Chkaiban - New Street Research Tal Liani - Bank of America Simon Leopold - Raymond James Ben Re ...

Arista Networks (ANET) came out with quarterly earnings of $2.40 per share, beating the Zacks Consensus Estimate of $2.09 per share. This compares to earnings of $1.83 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.83%. A quarter ago, it was expected that this cloud networking company would post earnings of $1.94 per share when it actually produced earnings of $2.10, delivering a surprise of 8.25%.Over the last four quarte ...

Core Insights - Arista Networks reported third-quarter revenue of $1.81 billion, a 7% year-over-year increase, exceeding analyst expectations [1][3] - Net income for the third quarter was $747.9 million, or $2.33 per share, up from $545.3 million, or $1.72 per share, a year earlier [1] - Despite strong profits, the company's gross margin decreased to 64.2% from 64.9% in the previous quarter, with expectations for further decline in the fourth quarter [2] Revenue and Earnings Forecast - For the fourth quarter, Arista forecasts revenue between $1.85 billion and $1.9 billion, which is above consensus estimates [3] - Analysts had anticipated a 28% growth in the fourth quarter, driven by increased cloud spending due to AI demand [3] Stock Split Announcement - Arista announced a 4-for-1 stock split to enhance stock accessibility for investors, with trading set to begin on December 4 [4] - The stock split will reduce the price of each share by a factor of four, but will not affect the total value of investors' holdings [4] Market Reaction - Following the earnings report, Arista's shares fell more than 7% in extended trading, despite being up approximately 83% for the year prior to the announcement [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------|-------------------------------------------------- ...

Exhibit 99.1 Arista Networks, Inc. Reports Third Quarter 2024 Financial Results SANTA CLARA, Calif.- November 7, 2024 -- 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 third quarter ended September 30, 2024. Third Quarter Financial Highlights "Arista remains at the forefront of next generation centers of data across client-to-cloud and AI focused locations, ...

Core Viewpoint - Growth stocks are appealing due to their potential for above-average financial growth, but identifying stocks that can fulfill this potential is challenging [1] Group 1: Company Overview - Arista Networks (ANET) is currently highlighted as a recommended growth stock by the Zacks Growth Style Score system, which evaluates a company's genuine growth prospects [2] - The company has a historical EPS growth rate of 34.1%, with projected EPS growth of 19.4% this year, surpassing the industry average of 16.9% [4] Group 2: Financial Metrics - Arista Networks exhibits a year-over-year cash flow growth of 47.4%, significantly higher than the industry average of -18.7% [5] - The company's annualized cash flow growth rate over the past 3-5 years stands at 27.1%, compared to the industry average of -1% [6] Group 3: Earnings Estimates - The current-year earnings estimates for Arista Networks have been revised upward, with the Zacks Consensus Estimate increasing by 0.6% over the past month [8] - The combination of a Growth Score of B and a Zacks Rank of 2 indicates that Arista Networks is a strong candidate for growth investors [9]

The AI story continues to grip investors, with many seeking exposure over the last year.Two stocks involved in the frenzy, Arista Networks (ANET) and Arm Holdings (ARM) , are on the reporting docket for this week. Both stocks have enjoyed bullish price action year-to-date, widely outperforming relative to the S&P 500.Image Source: Zacks Investment ResearchLet’s take a closer look at expectations for each heading into their respective releases.Arista Sees Profitability Boost Arista Networks, a Zacks Rank #1 ...

Uttam is a growth-oriented investment analyst whose equity research primarily focuses on the technology sector. Semiconductors, Artificial Intelligence and Cloud software are some of the key sectors that are regularly researched and published by him. His research also focuses on other areas such as MedTech, Defense Tech, and Renewable Energy. In addition, Uttam also authors The Pragmatic Optimist Newsletter along with his wife, Amrita Roy, who is also an author on the newsletter as well as on this platform. ...

The November to April period has been good for stocks, with the S&P 500 climbing almost 7% on average and rising a meager 2% from May to October since World War II. November, in itself, has been one of the best-performing months for stocks. This year will be no different since the Federal Reserve’s dovish stance, steady economic growth and solid consumer spending amid a resilient labor market are expected to trounce short-term volatility emerging from the upcoming election.Thus, investors can take advantage ...

For Immediate ReleasesChicago, IL – October 29, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Arista Networks Inc. (ANET) , Altice USA, Inc. (ATUS) and Qualcomm Inc. (QCOM) .Here are highlights from Tuesday’s Analyst Blog:3 Telecom Stocks Likely to Outpace Q3 Earnings EstimatesWith a fast-track 5G rollout and in ...