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

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Arista's stock sinks on weak guidance, citing 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.

 

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