ANET Stock: Arista earnings beat estimates, while revenues are lower

Arista Networks (Aneta) reported fourth-quarter earnings that easily beat estimates, while revenue slightly exceeded consensus estimates. Guidance for ANET stock flanked by Wall Street targets.


The maker of cloud computing networking equipment reported its results after the market closed on Monday.

For the three months ended December 31, Arista’s earnings rose 48% to $2.08 per share. Turnover also increased by 21% (€1.54 billion).

Analysts estimate Arista’s earnings per share at $1.70 on an adjusted basis, with revenue of $1.53 billion. A year earlier, Arista’s profit was $1.41 per share on revenue of $1.27 billion.

Guidelines for ANET Stock

For the current quarter ended March 31, Arista forecast revenue of $1.54 billion at the midpoint of expectations, flat quarter-over-quarter, with an estimate of $1.53 billion.

Analysts expect sales growth for ANET stock to slow from nearly 34% in 2023 to 12% in 2024.

In today’s stock market, ANET shares fell more than 8% to 257.71.

These are also Arista’s largest customers Microsoft (MSFT) and Facebook parent Metaplatforms (META). Newer customers include Oracle (ORCL)and Google parent Alphabet (GOOGL).

Artificial intelligence expected upwards

Heading into the earnings report, ANET stock was up 112% over the past year and up 20% in 2024. Arista stock has a Relative Strength Rating of 96 out of a best possible 99, according to IBD inventory check.

Arista sells computer network switches that speed up communications in Internet data centers. Moreover, they are the main rivals Cisco systems (CSCO) And Juniper Networks (JNPR).

According to analysts, Arista is gaining ground in the so-called ‘enterprise’ market – large corporations, government agencies and…

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