Arista Networks Inc Q3 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Thank you for the question and congrats on the results. I guess just to keep it simple, Jayshree, if you can give us an update on when we think about the last 90 days, how have the 2 sort of verticals, Cloud Titans and enterprise sort of shown up in terms of momentum of orders and demand relative to where your expectations were 90 days ago. I know some of the cloud companies have talked about their CapEx outlook for next year as well. So an update on that would be helpful. And on the last call, you did talk about a target for double-digit growth next year. So how are you thinking on -- in relation to that number still going into the Investor Day.

Question: David Vogt - UBS Investment Bank, Research Division - Analyst : I just want to follow up on Simon's question, maybe put it a little bit differently. So if I think about your market sector trend update, how much of the shift to that 40% to 45% cloud and AI Titans reflects the inclusion of new AI use cases going forward and the shift of Oracle combined with maybe some normalization at Meta and Microsoft. Can you kind of help us think through the dynamics there? And if it looks like share is going to REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 30, 2023 / 8:30PM, ANET.N - Q3 2023 Arista Networks Inc Earnings Call be unchanged with enterprise and financials, does that suggest to you that those markets are going to grow comparably over the long term across the cycle? Is that the way to look at it?