Why Arista Networks Stock Rallied on Wednesday
Shares of data-center switch company Arista Networks (NYSE: ANET) rallied on Wednesday, gaining 7.2% as of 12:14 p.m. ET. Arista reported its first-quarter earnings last night, and they came in stronger than expected.
Solid guidance and positive commentary around the company's artificial intelligence (AI) opportunity also quelled recent fears over competition.
In the first quarter, revenue rose 16.3% to $1.57 billion, and adjusted earnings per share were up 39.2% to $1.99. Both numbers were ahead of analyst expectations.
Source Fool.com
