Why Arista Networks Stock Is Sinking Today

Despite reporting third-quarter results that beat analyst expectations across the board, shares of artificial intelligence (AI)-focused networking provider Arista Networks (NYSE: ANET) slumped on Wednesday. By 11:35 a.m. ET, the stock was down about 7.1%, according to data provided by S&P Global Market Intelligence.Image source: Getty Images.Arista reported third-quarter revenue of $2.308 billion, up 27.5% year over year and slightly higher than the average analyst estimate. Adjusted earnings per share came in at $0.75, up from $0.60 in the prior-year period and $0.04 higher than analyst expectations. "We are proud to have delivered 25% non-GAAP EPS growth in this quarter, a reflection not only of strong demand, but also of the disciplined execution of our strategic roadmap," said Arista CFO Chantelle Breithaupt.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool