Arista Networks Inc (NYSE:ANET) stock fell 2.67% (As on May 3, 11:20:05 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 22 despite the sustained supply chain challenges. The company delivered Non-GAAP net income of $268.5 million compared to non-GAAP net income of $198.8 million, in the first quarter of 2021. The company posted Non-GAAP gross margin of 63.9%, compared to non-GAAP gross margin of 64.3% in the fourth quarter of 2021 and 64.7% in the first quarter of 2021.

ANET in the first quarter of FY 22 has reported the adjusted earnings per share of 84 cents, beating the analysts’ estimates for the adjusted earnings per share of 81 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 31.4 percent to $877.07 million in the first quarter of FY 22, beating the analysts’ estimates for revenue by 2.70%.

For the second quarter of 2022, the company expects revenue to be between $950 million to $1 billion, Non-GAAP gross margin of 60% to 62%; and Non-GAAP operating margin of approximately 37% to 38%.

Meanwhile, Arista announced that its 720XP series of switches for campus deliver embedded security and packet analysis. By embedding NDR (Network Detection and Response) capabilities into the Arista EOS-based switches, powered by AVA, customers derive broader visibility and threat hunting across the modern cognitive campus. Further, Arista discusses the new Arista 7800R AI Spine in meeting the requirements for next generation AI Networks. The Arista 7800R flagship platform delivers low power, low latency, high performance and reliability in combination with Arista EOS’ rich features and traffic management addresses AI workload requirements across Ethernet fabrics.

In addition, the company has announced the extension of its Arista EOS (Extensible Operating System) and CloudVision software to support high-performance switched networks for media and entertainment customers. Arista Media Control Service (MCS) makes broadcast workflows an integral function of the Arista network fabric providing customers with faster establishment of audio and video streams. MCS integrates with Arista broadcast solutions partners to give broadcasters and studio operators guaranteed uptime and performance for a superior content experience. Complete end-to-end solutions with support for MCS are already available and will continue to expand. Together with Arista switching platforms, MCS supports the transition from Serial Digital Interface (SDI) to IP switching by adding a layer of security, performance, and predictability to real-time on-premises and remote production networks.