Arista Networks published better-than-expected first quarter monetary outcomes on Wednesday regardless of a steep decline in year-over-year income. The networking participant reported earnings of $138.four million, or $1.73 a share, on income of $523 million, down 12% from a 12 months in the past. Non-GAAP earnings have been $2.01 a share.
Wall Avenue was on the lookout for non-GAAP earnings of $1.81 a share on income of $517.eight million.
For the second quarter Arista stated it initiatives income between $520 million and $540 million. Analysts are on the lookout for income of $542 million. Shares of Arista have been down over 6% after hours.
As a challenger to trade chief Cisco Methods, Santa Clara, Calif.-based Arista builds switches that deal with visitors at Web information facilities for corporations resembling Fb, Yahoo and Citigroup, and is led by former Cisco exec Jayshree Ullal.
In ready remarks, Ullal stated:
“Arista delivered strong Q1 2020 monetary outcomes regardless of the worldwide pandemic that all of us are experiencing. We’re dedicated to our staff’ security whereas bringing worth to our prospects, shareholders and group in these unpredictable occasions and imagine we are going to emerge stronger in the long run.”
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