Arista Networks Stock Tumbles in Late Trading After Reporting Earnings

Arista Networks (ANET) shares tumbled in extended trading Thursday as the company reported shrinking margins, despite profits that topped Wall Street’s expectations. The cloud networking giant saw third-quarter revenue grow 7% year-over-year to $1.81 billion, above the analyst consensus from Visible Alpha. Net income came in at $747.9 million or $2.33 per share, up from $545.3 million or $1.72 per share a year earlier and above projections. However, Arista's gross margin in the third quarter was 64.2%, dow ...