Summary by Moomoo AI
Arista Networks announced robust financial results for Q2 2024, with revenue reaching $1.690 billion, up 15.9% YoY. The company reported a GAAP net income of $665.4 million, or $2.08 per diluted share, a 33% increase from Q2 2023. Non-GAAP net income was $672.6 million, or $2.10 per diluted share.Arista's Q2 performance was marked by strong growth and profitability. The company achieved a non-GAAP gross margin of 65.4% and a non-GAAP operating margin of 46.5%. Arista also introduced new AI-focused networking solutions, including the Arista Etherlink AI platforms and Multi-Domain Segmentation for Zero Trust Networking.Looking ahead to Q3 2024, Arista expects revenue between $1.72 billion to $1.75 billion, with a non-GAAP gross margin of 63% - 64% and a non-GAAP operating margin of approximately 44%. The company's strong results and outlook reflect its continued success in data-driven, client-to-cloud networking for AI, data center, campus, and routing environments.
