Summary by Moomoo AI
Arista Networks delivered strong Q3 2024 financial results with revenue reaching $1.81B, up 20% YoY and 7.1% QoQ. The company achieved a GAAP net income of $747.9M ($2.33 per diluted share) and non-GAAP net income of $769.1M ($2.40 per diluted share). Gross margin remained robust at 64.2% GAAP and 64.6% non-GAAP.The company announced a four-for-one forward stock split to be effective December 3, 2024, aiming to make shares more accessible to a broader investor base. Trading on a split-adjusted basis is expected to commence on December 4, 2024.Looking ahead, Arista provided Q4 2024 guidance with revenue projected between $1.85B to $1.90B, non-GAAP gross margin of 63-64%, and non-GAAP operating margin of approximately 44%. The company continues to strengthen its position in AI networking and data center solutions through strategic partnerships and product innovations.
