Arista Networks Stock Surges On Q2 Earnings Beat, Strong Q3 Outlook

Arista Networks Inc (NYSE:ANET) reported second-quarter financial results after the market close on Tuesday. Here’s a rundown of the report.

• Q2 Revenue: $2.21 billion, versus estimates of $2.11 billion

• Q2 Adjusted EPS: 73 cents, versus estimates of 65 cents

ANET shares are up after-hours. Track it now here.

Total revenue was up 30.4% year-over-year. Gross margin was 65.2% in the second quarter. Arista Networks ended the quarter with $2.23 billion in total cash and cash equivalents.

“Arista is well-positioned in data-driven AI networking, from client to cloud,” said Jayshree Ullal, chair and CEO of Arista Networks.

“Our customers are decisively standardizing on our best of breed platform to bring transformational innovation and impact to their technology endeavors.”

Guidance: Arista Networks expects third-quarter revenue of approximately $2.25 billion versus estimates of $2.09 billion, according to Benzinga Pro.

ANET Price Action: Arista Networks shares were up 14.46% in Tuesday’s after-hours session, trading at $135.20 at the time of publication, per Benzinga Pro.

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