Why Arista Networks Stock Is Soaring Today

The booming artificial intelligence (AI) market is bearing fruit for more companies than the obvious names like Nvidia and Google parent Alphabet. According to numbers from S&P Global Market Intelligence, shares of networking technology outfit Arista Networks (NYSE: ANET) are up 10.9% as of 1:16 p.m. ET Wednesday in response to an impressive second-quarter report, largely fueled by its role in the advent of AI.For the three months ending in June, Arista Networks turned revenue of $1.69 billion into a per-share profit of $2.10 per share. Both are up from year-ago comparisons of $1.46 billion and $1.58 per share, respectively. But, perhaps more importantly, both numbers topped expectations for a top line of $1.65 billion and per-share profits of $1.94.Artificial intelligence accounts for the bulk of the beat.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool