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Sundry Pictures/iStock Editorial by way of Getty Pictures
Arista Networks (NYSE:ANET) is seeing uneven buying and selling above and beneath the flat line after hours following report income in its third-quarter earnings report and a reasonably helpful beat of expectations.
Revenues jumped 57% year-over-year, and practically 12% from final quarter, to land at a report $1.177B.
Gross margins declined barely – to 61.2% on a non-GAAP foundation from Q2’s 61.9% and a year-ago 64.9% – however non-GAAP web earnings jumped to $391.9M from a prior-year $236.9M.
“Clearly, we’re coming into the subsequent section of Arista’s evolution in merchandise, buyer intimacy and new market growth,” stated CEO Jayshree Ullal.
“We’re happy with the continued sturdy income development within the quarter, driving vital EPS upside and demonstrating the inherent operational leverage of the enterprise mannequin,” stated Chief Monetary Officer Ita Brennan.
Income breakout: Product, $1.009B (up 67%); Service, $168.1M (up 16.3%).
For the fourth quarter, the corporate is guiding to revenues of $1.175B-$1.2B, above expectations for $1.09B; non-GAAP gross margin of 60-62%; and working margin of about 40%.
Convention name to return at 4:30 p.m. ET.
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