- Cloud networking solutions provider Arista Networks forecast fourth-quarter revenue above estimates on Monday, as it expects easing supply chain restraints to underscore enterprise spending, sending its shares up 5.5% in extended trading.
Easing supply chain concerns have helped the company cater to cloud companies and enterprise clients such as Microsoft Corp Arista reported third-quarter revenue of $1.51 billion, a 28.3% increase from a year earlier, beating Street expectations of $1.48 billion.
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VF Corp Withdraws Full-Year Forecasts as Demand for Higher-Priced Apparel SlowsVF Corp has withdrawn its full-year revenue and profit forecasts due to a decrease in demand for its higher-priced apparel and footwear, particularly in the United States. The company's second-quarter profit was also lower than expected. High borrowing costs and inflation have caused consumers to prioritize essential purchases over pricier products. VF Corp's margins have been affected by discounts and promotions to attract customers and clear surplus inventory. Sales in the Americas fell 11%, but rose 8% in Greater China. The company does not anticipate an improvement in the performance of its Vans brands in the second half of the year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
VF Corp Withdraws Full-Year Forecasts as Demand for Higher-Priced Apparel SlowsVF Corp has withdrawn its full-year revenue and profit forecasts due to a decrease in demand for its higher-priced apparel and footwear, particularly in the United States. The company's second-quarter profit was also lower than expected. High borrowing costs and inflation have caused consumers to prioritize essential purchases over pricier products. VF Corp's margins have been affected by discounts and promotions to attract customers and clear surplus inventory. Sales in the Americas fell 11% but rose 8% in Greater China. The company does not anticipate an improvement in the performance of its Vans brands in the second half of the year.
Source: SaltWire Network - 🏆 45. / 63 Read more »