通信行业：ARISTA网络24Q2跟踪报告：Q2业绩超预期全年指引再度上调

招商证券股份有...08-01

事件：7 月30 日，Arista 网络（ANET.N）发布2024Q2 财报，2024Q2 公司实现营收16.90 亿美元，同比增长15.87%，净利润6.65 亿美元，同比增长35.28%。24Q2 业绩超预期，全年收入指引提升至同比增长14%以上。根据公司公告：24Q2 公司实现营收16.90 亿美元，同比增长15.87%，超公司业绩指引16.2-16.5 亿美元上限，主要系云厂商、企业客户...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2456703178?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2024-08-01 14:51","share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","id":"2456703178","market":"us","top_or_hot":-1,"title":"通信行业：ARISTA网络24Q2跟踪报告：Q2业绩超预期 全年指引再度上调","media":"招商证券股份有...","content":"<div>\n<p>事件：7 月30 日，Arista 网络（ANET.N）发布2024Q2 财报，2024Q2 公司实现营收16.90 亿美元，同比增长15.87%，净利润6.65 亿美元，同比增长35.28%。24Q2 业绩超预期，全年收入指引提升至同比增长14%以上。根据公司公告：24Q2 公司实现营收16.90 亿美元，同比增长15.87%，超公司业绩指引16.2-16.5 亿美元上限，主要系云厂商、企业客户...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202408011451109573b14b&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>通信行业：ARISTA网络24Q2跟踪报告：Q2业绩超预期 全年指引再度上调</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n通信行业：ARISTA网络24Q2跟踪报告：Q2业绩超预期 全年指引再度上调\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-01 14:51 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202408011451109573b14b&s=b><strong>招商证券股份有...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>事件：7 月30 日，Arista 网络（ANET.N）发布2024Q2 财报，2024Q2 公司实现营收16.90 亿美元，同比增长15.87%，净利润6.65 亿美元，同比增长35.28%。24Q2 业绩超预期，全年收入指引提升至同比增长14%以上。根据公司公告：24Q2 公司实现营收16.90 亿美元，同比增长15.87%，超公司业绩指引16.2-16.5 亿美元上限，主要系云厂商、企业客户...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202408011451109573b14b&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BLSP4452.SGD","symbol_name":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202408011451109573b14b&s=b","article_id":"2456703178","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202408011451109573b14b&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, .hot-list, .recom-box, .wx-sou","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2456703178","pubTimestamp":1722495065,"sourceInfo":{"source_id":"tencent","name":"腾讯"},"weMediaInfo":null,"summary":"24Q2 业绩超预期，全年收入指引提升至同比增长14%以上。Non-GAAP EPS 为2.10 美元，同比增长32.91%，超Bloomberg 一致预期的1.94 美元。分业务来看，Q2 服务维持35%增速，占收比持续提升。24Q2 公司费用率小幅下降，2024 年5 月批准回购计划正式开始实施。发布Etherlink AI 网络方案，支持十万卡集群。预计2024 年公司AI 网络收入占收比为个位数，2025 年提升至7.5 亿美元或以上。","collect":0,"end_time":0,"defaultTopTitle":"qq.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00B5TLWC47.USD":"BNY MELLON LONG-TERM GLOBAL EQUITY \"B\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","IE0004086264.USD":"BNY MELLON GLOBAL OPPORTUNITIES \"A\" (USD) ACC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4576":"AR","BK4533":"AQR资本管理(全球第二大对冲基金)","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC","BK4566":"资本集团","BK4587":"ChatGPT概念","BK4577":"网络游戏","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","BK4020":"通信设备","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","BK4550":"红杉资本持仓","IE00B775SV38.USD":"NEUBERGER BERMAN US MULTICAP OPPORTUNITIES \"A\" (USD) ACC","IE00BDRTCR15.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC A","IE00B5949003.HKD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A\" (HKD) ACC","IE0005OL40V9.USD":"JANUS HENDERSON BALANCED \"A6M\" (USD) INC","IE00BK4W5L77.USD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (USD) ACC","BK4097":"系统软件","IE0004445015.USD":"JANUS HENDERSON BALANCED \"A2\" (USD) ACC","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","IE00B19Z8X17.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH  \"AG\" (USD) ACC","IE00BJJMRY28.SGD":"Janus Henderson Balanced A Inc SGD","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","IE000KEQY171.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) INC","BK4548":"巴美列捷福持仓","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","IE0003U64NQ7.SGD":"PIMCO BALANCED INCOME AND GROWTH \"M\" (SGDHDG) ACC","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","ANET":"Arista Networks, Inc.","BK4528":"SaaS概念","IE00B3SWFQ91.USD":"PIMCO BALANCED INCOME AND GROWTH \"E\" (USD) INC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","BK4516":"特朗普概念","BK4532":"文艺复兴科技持仓","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE000W1ABFV2.USD":"PIMCO BALANCED INCOME AND GROWTH \"R\" (USD) INC"},"translate_title":"Communications Industry: ARISTA Network 24Q2 Tracking Report: Q2 Performance Exceeded Expectations, Full-year Guidance Raised Again","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ANET":0.9},"content_text":"事件：7 月30 日，Arista 网络（ANET.N）发布2024Q2 财报，2024Q2 公司实现营收16.90 亿美元，同比增长15.87%，净利润6.65 亿美元，同比增长35.28%。24Q2 业绩超预期，全年收入指引提升至同比增长14%以上。根据公司公告：24Q2 公司实现营收16.90 亿美元，同比增长15.87%，超公司业绩指引16.2-16.5 亿美元上限，主要系云厂商、企业客户、SP 厂商需求持续增长所致。24Q2 净利润6.73 亿美元，同比增长34.2%(24Q1yoy+ 46%)。Non-GAAP EPS 为2.10 美元，同比增长32.91%，超Bloomberg 一致预期的1.94 美元。毛利率方面，公司24Q2 Non-GAAP 毛利率水平为65.4%，同比增长4.1pct，环比增长1.2pct，主要系供应链管理得当,成本持续降低所致。后续及全年指引方面，公司预计24Q3 收入在17.2-17.5 亿美元区间内，Non-GAAP 毛利率为63%-64%（预计客户产品组合发生变化）。公司再度修正2024 年全年收入指引为同比增长14%以上（2024Q1 上修为12%-14%），毛利率维持在62%-64%区间内，营业利润率上修至44%（2023Q4 预期为42%）。分业务来看，Q2 服务维持35%增速，占收比持续提升。24Q2 公司产品收入为14.23 亿美元，同比增长12.82%（23Q4/24Q1 分别增长19.46%/13.37%）；服务收入为2.67 亿美元， 同比增长35.33%（ 23Q4/24Q1 分别增长28.79%/35.30%），占收比小幅提升0.34pct 至15.81%。24Q2 公司费用率小幅下降，2024 年5 月批准回购计划正式开始实施。1）费用方面：24Q2 公司三项费用率（研发、销售与管理）为23.52%，同比降低0.75pct。2）采购承诺与库存：24Q2 公司采购承诺与库存总额达40 亿美元（24Q1 为35 亿美元），主要系公司新产品推出备货所致，预计随着后续整体库存趋稳。3）递延收入方面：24Q2 公司总递延收入余额为21 亿美元（24Q1为17 亿美元），大部分与服务相关。4）回购方面：24Q2 公司回购1.72 亿美元普通股（平均$282.2/股），其中0.9 亿美元为公司2024 年5 月新批准的12 亿美元回购计划支出。发布Etherlink AI 网络方案，支持十万卡集群。公司发布Etherlink AI 网络方案，可支持十万卡XPU 集群规模，当前Arista 部分客户正在推动自身GPU集群规模由万卡向5 万卡迭代，预计2025 年实现十万卡集群规模。公司具备充分技术实力以满足AI 前端与后端网络需求。预计2024 年公司AI 网络收入占收比为个位数，2025 年提升至7.5 亿美元或以上。深度绑定Meta、Microsoft，有望受益于两者资本开支扩张。2023 年Meta与Microsoft 两者占Arista 收入比重分别为21%与18%，2024H1 Meta 与Microsoft 仍为Arista 占收比超10%的大客户。24Q2 Mircosoft 资本开支138.73 亿美元（yoy+55.13%，预期132.7 亿美元），预计FY25 资本开支将高于FY24；Meta 2024Q1 上调全年资本开支指引至350-400 亿美元。风险提示：全球经济超预期扰动、Arista AI 网络收入不及预期、市场竞争加剧的风险、Meta、Microsoft 资本开支不及预期的风险。","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.26.2","shortVersion":"4.26.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2456703178"}

通信行业：ARISTA网络24Q2跟踪报告：Q2业绩超预期 全年指引再度上调

精彩评论

通信行业：ARISTA网络24Q2跟踪报告：Q2业绩超预期全年指引再度上调