Sector: Technology|Industry: Computer Hardware|Market Cap: $141.56B|Employees: 4K
Arista Networks is a leading provider of data-driven cloud networking solutions for large data centers, campuses, and routing environments. Its primary revenue streams are sales of its switching and routing platforms, which incorporate its EOS software, and related network applications, as well as post-contract support. Arista holds a leading market position due to its focus on quality, open standards-based technology, and robust quality assurance, serving a diverse customer base globally.
Total revenue increased by 15.9% year-over-year to $1.69 billion, with product revenue growing by 12.8% and service revenue increasing by 35.3%. This indicates strong demand across the company's offerings.
Gross margin increased to 64.9% from 60.6% in the prior year, primarily due to a reduction in net excess/obsolete inventory and supplier liability charges. This indicates improved cost management.
Net income increased significantly from $491.9 million to $665.4 million, reflecting strong revenue growth and improved gross margins. This demonstrates improved profitability.