Arista Reports $608.3M Q2 Up 17% YoY

Arista cited 400G and campus product introductions as highlights of the quarter.

August 1, 2019

1 Min Read

SANTA CLARA, Calif. -- Arista Networks, Inc., an industry leader in software-driven cloud networking solutions for large datacenter and campus environments, today announced financial results for its second quarter ended June 30, 2019.

Second Quarter Financial Highlights

  • Revenue of $608.3 million, an increase of 2.2% compared to the first quarter of 2019, and an increase of 17.0% from the second quarter of 2018.

  • GAAP gross margin of 64.1%, compared to GAAP gross margin of 63.9% in the first quarter of 2019 and 64.2% in the second quarter of 2018.

  • Non-GAAP gross margin of 64.7%, compared to non-GAAP gross margin of 64.5% in the first quarter of 2019 and 64.5% in the second quarter of 2018.

  • GAAP net income of $189.3 million, or $2.33 per diluted share, compared to GAAP net loss of $155.3 million, or $2.08 per diluted share in the second quarter of 2018.

  • Non-GAAP net income of $198.6 million, or $2.44 per diluted share, compared to non-GAAP net income of $155.7 million, or $1.93 per diluted share in the second quarter of 2018.

"In Q2 2019, Arista raised the ante with innovative products in both 400G and Cognitive Campus. Our leadership in cloud area networking is now widely recognized by industry analysts, partners and customers," stated Jayshree Ullal, Arista President and CEO.

Commenting on the company's financial results, Ita Brennan, Arista's CFO, said, "The business continued to demonstrate solid earnings and cash flow generation for the quarter."

Financial Outlook
For the third quarter of 2019, we expect:

  • Revenue between $647 million and $657 million;

  • Non-GAAP gross margin between 63% to 65%, and

  • Non-GAAP operating margin of approximately 36%

Arista Networks Inc.

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