Why Arista Networks Fell 17.1% in August
Shares of Arista Networks (NYSE: ANET) declined 17.1% in August, according to data from S&P Global Market Intelligence, after the cloud-networking solutions specialist announced strong second-quarter results but followed with cautious comments on growth for the rest of the year.
To be sure, Arista stock dropped more than 10% on August 2, 2019 alone -- the first trading day after the company told investors its Q2 revenue had climbed 17% year over year to $608.3 million, translating to adjusted net income of $198.6 million, or $2.44 per share. Analysts, on average, were modeling earnings of $2.20 per share on revenue closer to $607 million.
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Source Fool.com
