Cloud Software Stock Slips From Record Highs After Earnings
Portfolio Pulse from
Arista Networks Inc (NYSE:ANET) stock fell 5.8% to $405.83 despite reporting better-than-expected third-quarter results, including an earnings beat and record revenue, due to shrinking margins.
November 08, 2024 | 4:00 pm
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Arista Networks Inc (NYSE:ANET) reported strong Q3 results with an earnings beat and record revenue, but its stock fell 5.8% due to concerns over shrinking margins.
Despite Arista Networks' strong earnings and record revenue, the market reacted negatively due to shrinking margins, leading to a 5.8% drop in stock price. This suggests that investors are concerned about profitability, impacting short-term stock performance.
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