Arista Networks -5% after Q2 beat, strong revenue guidance – Seeking Alpha
Arista Networks (NYSE:ANET) has turned 5% lower postmarket following its beat on top and bottom lines in Q2 earnings (and the company’s conference call, prior to which the stock was higher).
Revenues fell by double digits (to $540.6M) as a near-18% drop in core product sales were only partly offset by an increase in service revenues.
But non-GAAP gross margin was flat at 64.7%, and net income dipped to $167M from a year-ago $198.6M.
Revenue breakout: Product, $421.4M (down 17.9%); Service, $1…