Arista Network Drops 8% Despite Better Than Expected Q4 Results

Arista Network Drops 8% Despite Better Than Expected Q4 Results Feb. 13, 2024, 9:07 a.m., readers: 13

Arista Networks (NYSE:ANET) announced its fourth-quarter earnings on Monday, exceeding Wall Street predictions. Despite this, the company's shares dropped over 8% in pre-market today following the announcement. The networking equipment manufacturer posted earnings per share (EPS) of $2.08 and revenue of $1.54 billion, surpassing the expected figures of $1.70 per share and $1.53 billion, respectively. Looking ahead to the first quarter, Arista Networks anticipates revenue to be between $1.52 billion and $1.56 billion, aligning with Wall Street's forecast of $1.53 billion.

About NYSE: ANET

A rista Networks, Inc. develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms. It also provides post contract customer support services, such as technical support, hardware repair and parts replacement beyond standard warranty, bug fix, patch, and upgrade services.

Price: 262.76
Market cap: 82.1 billion USD
Eps: 6.58
P/e ratio: 39.93
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