Arista Networks Inc

Latest Results (20.08.2024):

Revenue Growth

Arista Networks Inc. reported revenue of $1.571 billion for the first quarter of 2024, marking a 2.0% increase compared to the fourth quarter of 2023 and a 16.3% rise from the first quarter of 2023. This growth reflects the company's strong market position and continued demand for its networking solutions.

Gross Margin

For the first quarter of 2024, Arista Networks Inc. achieved a GAAP gross margin of 63.7%, which is slightly lower than the 64.9% reported in the fourth quarter of 2023 but higher than the 59.5% in the first quarter of 2023. The non-GAAP gross margin stood at 64.2%, compared to 65.4% in the previous quarter and 60.3% in the same quarter last year.

Net Income

Arista Networks Inc. reported a GAAP net income of $637.7 million, or $1.99 per diluted share, for the first quarter of 2024. This is a significant increase from the GAAP net income of $436.5 million, or $1.38 per diluted share, in the first quarter of 2023. The non-GAAP net income also matched the GAAP figures at $637.7 million, or $1.99 per diluted share, compared to $452.5 million, or $1.43 per diluted share, in the same period last year.

Stock Repurchase Program

Arista Networks Inc. has completed repurchases of its common stock totaling $2 billion under previous stock repurchase programs. Additionally, on May 3, 2024, the Board of Directors authorized a new program to repurchase up to $1.2 billion worth of stock, reflecting the company's confidence in its financial health and commitment to returning value to shareholders.

Financial Outlook

For the second quarter of 2024, Arista Networks Inc. expects revenue to be between $1.62 billion and $1.65 billion. The company also anticipates a non-GAAP gross margin of approximately 64% and a non-GAAP operating margin of around 44%, indicating a positive outlook for continued financial performance.