Wednesday, 20 October 2021

Arista shares drop 16% after Q4


LONDON: Arista Networks reported in-line fourth quarter financial results Thursday, but its shares fell more than 16 percent after hours on soft guidance.

The company reported earnings of $103.8 million, or $1.29 a share, on revenue of $467.9 million, up 42 percent from a year ago. Non-GAAP earnings were $1.71 a share.

Wall Street was looking for non-GAAP earnings of $1.41 a share on revenue of $458.67 million.

For 2017, Arista had earnings of $5.61 per share on revenue of $1.6 billion, an increase of 45.8 percent from the year prior. Analysts were expecting $5.32 per share on revenue of $1.64 billion.

In terms of guidance, Arista is calling for sales of $450 million to $468 million for the first quarter. Wall Street was expecting sales of $457.9 million.

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