Arista Networks Shares Up 5% Following Q3 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/ANET'>Arista Networks (NYSE:ANET)</a> shares gained more than 5% yesterday following the company’s reported Q3 results, with EPS of $1.25 coming in better than the Street estimate of $1.04. Revenue was $1.17 billion, compared to the Street estimate of $1.06 billion.</p>
<p>The company continues to benefit from Cloud Titan spend (Microsoft and Meta top customers), with demand visibility still into mid-2023, as well as share gains at enterprise customers. This growth is especially laudable given component supply constraints and de-commits, with Arista purchase commitments now at $4.3 billion (vs. $4.5 billion last quarter).</p>
<p>The company now expects over 45% topline growth for 2022, well ahead of its 30% target despite supply constraints.</p>

NYSE:ANET