Marco VDM/E+ via Getty Images I upgraded Arista Networks, Inc. (NYSE:ANET) to “Strong Buy” in my latest report published in March 2024, highlighting its long-term growth potential in the data center Ethernet switch market. The company released its Q2 result on July 30th after the market close, beating the market expectations. I favor the company’s mid-teen revenue growth driven by data center and AI investments. I reiterate a “Strong Buy” rating with a one-year target price of $420 per share. Further Ex ...

The tiny technology company is making a big impact on the artificial intelligence industry.The booming artificial intelligence (AI) market is bearing fruit for more companies than the obvious names like Nvidia and Google parent Alphabet. According to numbers from S&P Global Market Intelligence, shares of networking technology outfit Arista Networks (ANET 10.83%) are up 10.9% as of 1:16 p.m. ET Wednesday in response to an impressive second-quarter report, largely fueled by its role in the advent of AI.AI is ...

Arista Networks, Inc. (ANET) reported healthy second-quarter results, with the top and bottom lines soaring year over year, driven by robust demand trends. Innovative product launches 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 $665.4 m ...

Arista Networks, Inc. (NYSE:ANET) Q2 2024 Earnings Conference Call July 30, 2024 4:30 PM ET Company Participants Liz Stine - Director of Investor Relations Jayshree Ullal - Chairperson & Chief Executive Officer Ashwin Kohli - Chief Customer Officer Chantelle Breithaupt - Chief Financial Officer Conference Call Participants Michael Ng - Goldman Sachs Aaron Rakers - Wells Fargo Meta Marshall - Morgan Stanley Atif Malik - Citi Antoine Chkaiban - New Street Research Amit Daryanani - Evercore ISI Tal Liani - Ban ...

Arista Networks (ANET) came out with quarterly earnings of $2.10 per share, beating the Zacks Consensus Estimate of $1.94 per share. This compares to earnings of $1.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.25%. A quarter ago, it was expected that this cloud networking company would post earnings of $1.74 per share when it actually produced earnings of $1.99, delivering a surprise of 14.37%.Over the last four quarte ...

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 June 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 Second Quarter 2024 Financial Results SANTA CLARA, Calif.- July 30, 2024 -- Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client-tocloud networking for large AI, data center, campus and routing environments, today announced financial results for its second quarter ended June 30, 2024. Second Quarter Financial Highlights "On the heels of our June celebration of 10 years as a public company, I would again like to thank our customers, employee ...

The artificial intelligence era is proving to be quite lucrative for big data companies. In addition to providers of data storage services, firms that specialize in analyzing huge amounts of unstructured data are getting a big boost from the proliferation of AI.Moreover, large language models, which enable AI apps to be built and assist AI systems with understanding human writing and speech, require large amounts of data to be created. Consequently, firms with large amounts of such data have an important co ...

Arista Networks, Inc. (ANET) is scheduled to report second-quarter 2024 results on Jul 30, after the closing bell. In the last reported quarter, the company reported an earnings surprise of 14.37%.The company is expected to have registered higher revenues from the Service segment, driven by healthy demand trends. Management’s effort to expand its portfolio to cater to advanced use cases is a positive.Factors at PlayIn the second quarter, Arista introduced the Multi-Domain Segmentation Service to improve ent ...

Arista Networks, Inc. (ANET) is scheduled to report second-quarter 2024 results on Jul 30, after the closing bell. In the last reported quarter, the company delivered an earnings surprise of 14.37%. The company is expected to have earned higher revenues from the product segment, backed by growing demand for its Etherlink portfolio and a strong focus on innovation.Factors at PlayIn the second quarter, Arista launched its Etherlink AI platforms for optimal network performance across the most demanding AI work ...