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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.
Arista
Arista
Arista Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService Revenue
CapyFin.com 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