Arista Networks reports a significant revenue increase of 33.8% By Investing.com

© Reuters.

SANTA CLARA, Calif. – Arista Networks , Inc. (NYSE: NYSE:), a outstanding participant in data-driven networking options, shared its monetary outcomes for the fourth quarter and the complete yr that concluded on December 31, 2023. The corporate reported a major income enhance of 33.8% for the complete yr, reaching $5.86 billion in comparison with the earlier fiscal yr.

The corporate’s GAAP internet earnings additionally noticed a considerable rise to $2.09 billion, or $6.58 per diluted share, up from $1.35 billion, or $4.27 per diluted share, in 2022. Non-GAAP internet earnings adopted swimsuit, climbing to $2.20 billion, or $6.94 per diluted share, from $1.45 billion, or $4.58 per diluted share, within the prior yr.

For the fourth quarter, Arista’s income stood at $1.54 billion, marking a 2.1% enhance from the third quarter of 2023 and a 20.8% rise from the fourth quarter of the earlier yr. The GAAP and non-GAAP gross margins for the quarter have been reported at 64.9% and 65.4%, respectively, showcasing enhancements over each the earlier quarter and the identical interval in 2022.

Chantelle Breithaupt has been introduced because the incoming CFO, set to take her place in February 2024. She expressed her enthusiasm for contributing to the management staff and the continued supply of progressive networking options to satisfy the demanding wants of enterprise, cloud, and AI clients.

Arista’s monetary outlook for the primary quarter of 2024 anticipates revenues between $1.52 billion and $1.56 billion, with non-GAAP gross and working margins projected at roughly 62% and 42%, respectively.

The corporate highlighted a number of achievements over the yr, together with the introduction of its Arista 7130 Collection for 25G ultra-low latency networking, an expanded zero belief networking structure, and surpassing 75 million cloud community ports shipped cumulatively. Moreover, Arista was acknowledged as a frontrunner in community evaluation and visibility by The Forrester Wave™ and launched new AI-driven community identification providers.

This text was generated with the help of AI and reviewed by an editor. For extra data see our T&C.