Arista Networks forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in artificial intelligence (AI) applications.
Both Microsoft and Meta said last week they would continue investing in data center infrastructure, including networking equipment, to support functionality centered on AI.
Arista sees third-quarter revenue in the range $1.45 billion to $1.5 billion, higher than analysts' estimate of $1.39 billion, according to Refinitiv data. In the second quarter ended June 30, its revenue rose 39% to $1.46 billion, beating expectations of $1.38 billion. The company earned $1.58 per share, on adjusted basis, also higher than estimates of $1.44.Our Standards:
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