Arista Networks Inc Q2 2023 Earnings Call Summary - Thomson StreetEvents

Arista Networks Inc Q2 2023 Earnings Call Summary

Arista Networks Inc Q2 2023 Earnings Call Summary - Thomson StreetEvents
Arista Networks Inc Q2 2023 Earnings Call Summary
Published Jul 31, 2023
17 pages (9107 words) — Published Jul 31, 2023
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About This Report

  
Abstract:

Edited Brief of ANET.N earnings conference call or presentation 31-Jul-23 8:30pm GMT

  
Brief Excerpt:

...A. We delivered revenues of $1.46 billion for the quarter, with a non-GAAP earnings per share of $1.58. B. Services and software support renewals contributed approximately 15.2% of revenue. C. Our non-GAAP gross margins of 61.3% was influenced by improving supply chain overheads and higher enterprise contribution. D. We do expect gross margins to consistently improve every quarter this year and stabilize in 2024. E. International contribution registered at 21%, with the Americas at 79%. F. As we surpassed 75 million cumulative cloud networking ports, we are experiencing 3 refresh cycles with our customers, 100 gigabit migration in the enterprises, 200 and 400 gigabit migration in the cloud and 400 going to 800 gigabits for AI workloads. G. During the past couple of years, we have enjoyed significant increase in cloud CapEx to support our Cloud Titan customers for their ever-growing needs, tech refresh and expanded offerings. H. One specific Cloud Titan customer has signaled a slowdown in...

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Arista Networks Inc
Ticker
ANET.N
Time
8:30pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Maybe if I can shift gears here a little bit to enterprise, Jayshree, and obviously, you're talking about the slowdown on the cloud side here a bit going into 2024. But when you look at enterprise, how do you think about sustaining a growth rate or the slowdown in that growth rate into 2024? What are you seeing in terms of orders on that front to sort of give you visibility into 2024? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 31, 2023 / 8:30PM, ANET.N - Q2 2023 Arista Networks Inc Earnings Call

Question: David Vogt - UBS Investment Bank, Research Division - Analyst : Congratulations, Ita. I just want to go back to the point and maybe help bridge the '23 to '24 to '25 commentary that Jayshree mentioned sort of strong double-digit growth. I think in the past, you've talked about 15% growth across cycles. And I'm just trying to think through, Ita is there enough in trials and pilots in '24 to kind of get you to that kind of mid-teens growth over the next couple of years? And if not, does that mean that your enterprise business has to remain incredibly robust in '24? Upwards of high teens to low 20% growth next year. I know you're not giving guidance, but trying to kind of walk the bridge to get from where we are today to '25, where you're going to start to see more widespread AI deployments from a revenue recognition perspective. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 31, 2023 / 8:30PM, ANET.N - Q2 2023 Arista Networks Inc Earnings Call

Table Of Contents

Arista Networks Inc at Deutsche Bank Technology Conference Transcript – 2023-08-31 – US$ 54.00 – Edited Transcript of ANET.N presentation 31-Aug-23 3:45pm GMT

Arista Networks Inc at Rosenblatt Virtual Tech Summit Transcript – 2023-08-23 – US$ 54.00 – Edited Transcript of ANET.N presentation 23-Aug-23 5:00pm GMT

Arista Networks Inc at KeyBanc Technology Leadership Forum Summary – 2023-08-07 – US$ 54.00 – Preliminary Brief of ANET.N presentation 7-Aug-23 5:00pm GMT

Arista Networks Inc at KeyBanc Technology Leadership Forum Transcript – 2023-08-07 – US$ 54.00 – Edited Transcript of ANET.N presentation 7-Aug-23 5:00pm GMT

Arista Networks Inc Q2 2023 Earnings Call Transcript – 2023-07-31 – US$ 54.00 – Edited Transcript of ANET.N earnings conference call or presentation 31-Jul-23 8:30pm GMT

Arista Networks Inc at William Blair Growth Stock Conference Summary – 2023-06-06 – US$ 54.00 – Edited Brief of ANET.N presentation 6-Jun-23 3:40pm GMT

Arista Networks Inc at Bank of America Global Technology Conference Summary – 2023-06-06 – US$ 54.00 – Edited Brief of ANET.N presentation 6-Jun-23 5:40pm GMT

Arista Networks Inc at William Blair Growth Stock Conference Transcript – 2023-06-06 – US$ 54.00 – Edited Transcript of ANET.N presentation 6-Jun-23 3:40pm GMT

Arista Networks Inc at Bank of America Global Technology Conference Transcript – 2023-06-06 – US$ 54.00 – Edited Transcript of ANET.N presentation 6-Jun-23 5:40pm GMT

Arista Networks Inc at JPMorgan Global Technology, Media and Communications Conference Transcript – 2023-05-23 – US$ 54.00 – Edited Transcript of ANET.N presentation 23-May-23 5:55pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Arista Networks Inc Q2 2023 Earnings Call Summary" Jul 31, 2023. Alacra Store. May 22, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Arista-Networks-Inc-Earnings-Call-B15651640>
  
APA:
Thomson StreetEvents. (2023). Arista Networks Inc Q2 2023 Earnings Call Summary Jul 31, 2023. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Arista-Networks-Inc-Earnings-Call-B15651640>
  
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