Arista stock sinks on weak guidance as company cites softening business from a cloud 'titan'

"While we expect a sudden softening in Q4 with a specific cloud titan customer, we are committed to a sustainable and strong foundation of long-term growth, innovation and profitability," said Jayshree Ullal, Arista CEO, in the statement.will each represent 10% of revenue, Ullal told analysts on a conference call on Thursday.

"After we experienced the pause of a specific cloud titans order in Q2 2019, we were expecting a recovery in second half 2019 for cloud titan spend," Ullal said. "In fact, Q3 2019 is a good evidence of that. However, we were recently informed of a shift in procurement strategy with a material reduction in demand from a second cloud titan, reducing their forecast dramatically from original projections for both Q4 2019 and for calendar 2020.

She said the forecast is consistent with cloud providers' predictions of flat or lower capital expenditures., called for $540 million to $560 million in revenue in the fourth quarter. Analysts polled by Refinitiv had expected $686.2 million.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Twilio stock falls after giving soft earnings guidanceTwilio's net dollar expansion rate was soft for the fiscal third quarter, and earnings for the next quarter was also lighter than expected. Twilo. Isn’t that the alien planet from the walnut episode of THE DICK VAN DYKE SHOW?
Source: CNBC - 🏆 12. / 72 Read more »

Lyft stock falls despite earnings beat and raising guidance for yearLyft slides despite an earnings beat. Here are the key numbers: Loss per share: $1.57 vs. $1.66, per Refinitiv estimates Revenue: $955.6 million vs. $915 million, per Refinitiv estimates $LYFT What are the odds Lyft and Uber eventually merge?
Source: CNBC - 🏆 12. / 72 Read more »