Arista (ANET) Beats Q3 Earnings Estimates, Revenues Up Y/Y
Zacks Investment Research | Nov 05, 2017 08:26PM ET
Arista Networks Inc. (NYSE:ANET) reported non-GAAP earnings of $1.62 per share in third-quarter 2017, which comfortably surpassed the Zacks Consensus Estimate by 41 cents. The figure surged 94.1% on a year-over-year basis.
Revenues of $437.6 million soared 50.8% from the year-ago quarter. The figure surpassed management’s guidance of $405-$420 million. Product revenues (86.9% of total revenues) surged 49.6% to $380.3 million. Service revenues (13.1% of total revenues) rose 59% to $57.3 million.
Arista is benefiting from strong demand for 100-gigabit routing and switching products, particularly from cloud titans. Top five customer verticals in the quarter were cloud titans, Tier 1 and 2 service providers, cloud specialty providers, high tech enterprises and financials.
Arista stated that visibility around cloud titans remains strong for the next one or two quarters. Management noted that FlexRoute license (almost 150 customers) has helped the company enter additional layers of the spine for routing and data-center interconnect, where Cisco Systems Inc (NASDAQ:CSCO) and Juniper Networks Inc. (NYSE:JNPR) were dominant names.
Arista Networks, Inc. Price, Consensus and EPS Surprise/h3
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