Why Arista Networks Stock Is Advancing After Hours
Portfolio Pulse from Adam Eckert
Arista Networks Inc's shares are trading higher after the company reported better-than-expected Q2 financial results. The company's revenue increased by 38.7% YoY to $1.459 billion, beating the consensus estimate of $1.38 billion. The company also reported quarterly earnings of $1.58 per share, surpassing analyst estimates of $1.44 per share. Despite a slight decrease in gross margin YoY, the company surpassed 75 million cloud network ports shipped during the quarter. Arista anticipates a gross margin of approximately 62% in Q3 and revenue in the range of $1.45 billion to $1.5 billion.
July 31, 2023 | 9:11 pm
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Arista Networks reported better-than-expected Q2 results, leading to a rise in its stock price. The company's strong performance and positive outlook for Q3 could continue to support its stock price in the short term.
Arista Networks' Q2 results exceeded expectations, with a significant YoY increase in revenue and earnings per share beating analyst estimates. This positive news led to an increase in the company's stock price. The company's positive outlook for Q3, including expected revenue growth and a higher gross margin, could further support its stock price in the short term.
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