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Mar 31, 2024
Arista Q1 2024 Earnings Report
Arista reported a strong start to 2024 with solid first quarter results, driven by breakthrough innovations and customer traction.
Key Takeaways
Arista Networks reported a revenue of $1.571 billion for Q1 2024, representing a 16.3% increase year-over-year. The company's GAAP net income was $637.7 million, or $1.99 per diluted share. The Board of Directors authorized an additional $1.2B stock repurchase program.
Revenue reached $1.571 billion, up 16.3% year-over-year.
GAAP gross margin was 63.7%, compared to 59.5% in Q1 2023.
GAAP net income was $637.7 million, or $1.99 per diluted share.
An additional $1.2 billion stock repurchase program was authorized.
Revenue by Segment
Forward Guidance
For the second quarter of 2024, Arista expects revenue between $1.62 billion to $1.65 billion, a non-GAAP gross margin of approximately 64%, and a non-GAAP operating margin of approximately 44%.
Positive Outlook
- Revenue between $1.62 billion to $1.65 billion.
- Non-GAAP gross margin of approximately 64%.
- Non-GAAP operating margin of approximately 44%.
- Stock repurchase program.
Challenges Ahead
- Excludes stock-based compensation expense.
- Excludes amortization of acquisition-related intangible assets.
- Excludes potential non-recurring charges or benefits.
- Uncertainty in predicting stock-based compensation expense.
- Impacted by future hiring and retention needs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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