Arista Networks (ANET) Tops Q3 EPS by 49c, Beats on Revenues; FY17 Revenue Guidance Above Consensus

Arista Networks (NYSE: ANET) reported Q3 EPS of $1.68, $0.49 better than the analyst estimate of $1.19. Revenue for the quarter came in at $437.5 million versus the consensus estimate of $418.5 million.

Financial Outlook

For the fourth quarter of 2017, we expect:

• Revenue between $450 and $464 million.
• Non-GAAP gross margin between 63% to 65%, and
• Non-GAAP operating margin between 30% and 32%

GUIDANCE:

Arista Networks sees FY2017 revenue of $450-464 million, versus the consensus of $447.14 million.

Third Quarter Financial Highlights

• Revenue of $437.6 million, an increase of 8.0% compared to the second quarter of 2017, and an increase of 50.8% from the third quarter of 2016.
• GAAP gross margin of 64.1%, compared to GAAP gross margin of 64.1% in the second quarter of 2017 and 64.2% in the third quarter of 2016.
• Non-GAAP gross margin of 64.4%, compared to non-GAAP gross margin of 64.4% in the second quarter of 2017 and 64.6% in the third quarter of 2016.
• GAAP net income of $133.7 million, or $1.68 per diluted share, compared to GAAP net income of $51.3 million, or $0.69 per diluted share, in the third quarter of 2016.
• Non-GAAP net income of $128.2 million, or $1.62 per diluted share, compared to non-GAAP net income of $61.2 million, or $0.83 per diluted share, in the third quarter of 2016.

For earnings history and earnings-related data on Arista Networks (ANET) click here.

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