Arista Networks ANET 243.84 +4.41 +1.84% reported $2.26 per share on revenue of $595.4 M beating estimates of $2.07 per share on revenue of $594.2 M. Revenue rose 26% year over year. All well and good on the earnings, but then they lowered guidance. Second quarter revenue is now expected between $600-610 M, barely rising over first quarter and well lower than the estimate of $637.2 M. The stock is paying the price today, down over 15% premarket.
Arista is a supplier of cloud networking solutions that use software innovations to address the needs of Internet companies, cloud service providers and data centers for enterprise support. It develops, markets and sells cloud networking solutions, which consist of its Gigabit Ethernet switches and related software.
Activision Blizzard Falls
Activision Blizzard ATVI 55.51 +0.97 +1.78% reported $0.58 per share on revenue of $1.83 B. Estimates were for $0.25 per share on revenue of $1.2 B. Next quarter they’re also expecting to beat current consensus estimates, $0.35 per share on $1.315 B guidance vs $0.32 per share on $1.30 B estimates. The problem comes in full year, where ATVI guided to $1.85 on $6.025 B revenue vs $1.96 on $6.49 B consensus estimates.
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