Why Computer Networking Company Arista's Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Arista Networks Inc's shares are up by around 10% following the release of their Q3 FY23 results. The company reported a 28.3% Y/Y revenue growth to $1.509 billion, surpassing the consensus of $1.480 billion. Adjusted EPS was $1.83, beating the consensus of $1.58. The company's Q4 FY23 outlook expects revenues of $1.500 billion-$1.550 billion, adjusted gross margin of around 63%, and adjusted operating margin of approximately 42%.
October 31, 2023 | 12:18 pm
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POSITIVE IMPACT
Arista Networks' Q3 FY23 results exceeded expectations, leading to a surge in its stock price. The company's positive Q4 FY23 outlook may further boost investor confidence.
Arista Networks reported strong Q3 FY23 results, with revenue and EPS surpassing consensus estimates. This positive news has led to a surge in the company's stock price. Furthermore, the company's positive Q4 FY23 outlook, which also exceeds consensus estimates, indicates strong future performance, which may further boost investor confidence and potentially lead to further increases in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100