Arista Networks reported Q1 2020 revenue of $523.0 million, a decrease of 5.3% compared to the fourth quarter of 2019, and a decrease of 12.2% from the first quarter of 2019. GAAP gross margin was 64.7%. GAAP net income was $138.4 million, or $1.73 per diluted share. Non-GAAP net income was $161.7 million, or $2.02 per diluted share, compared to non-GAAP net income of $187.7 million, or $2.31 per diluted share in the first quarter of 2019.
"Arista delivered solid Q1 2020 financial results despite the global pandemic that we all are experiencing. We are committed to our employees’ safety while bringing value to our customers, shareholders and community in these unpredictable times and believe we will emerge stronger in the long term,” stated Jayshree Ullal, Arista’s President and CEO.
Commenting on the company's financial results, Ita Brennan, Arista’s CFO, said, “We are pleased with our business execution in the quarter, with the majority of our team effectively working from home, yet continuing to engage productively with our customers, supply chain and other partners.”
Some highlights from Q1:
Acquired Big Switch Networks, a network monitoring and SDN pioneer.
Announced an Optical Line System for 400G – The Arista OSFP-LS is a highly compact, low power solution for increasing bandwidth between data centers without the need for external optical line systems. This pluggable OSFP form factor simplifies DWDM network deployment and reduces valuable rack space, appealing in particular to Tier2 Cloud and Internet Service Providers.
Ciena and Arista completed interoperability testing of a dense and spectrally-efficient 400GbE transport solution with a native 400GbE router.
