Shares of Arista Networks (ANET) - Get Arista Networks, Inc. Report , a cloud-computing network services provider, fell sharply in after-hours action Thursday after the company offered disappointing guidance for the coming quarter.
The stock fell $60.57, or 25%, to $184 in after-hours trading.
Arista posted earnings of $2.69 a share on revenue of $654.4 million for the latest quarter. Analysts surveyed by FactSet had been looking for $2.41 a share, on sales of $653.3 million.
However, for the upcoming quarter, the company forecast revenue between $540 million and $560 million, sharply below analyst consensus estimates of $686.2 million.
"We expect a sudden softening in Q4 with a specific cloud titan customer," Jayshree Ullal, Arista president and CEO said in a statement.
Twilio Inc. is a component of the Action Alerts Plus portfolio.
Save 57% during our Halloween Sale. Don't let this market haunt you. Join Jim Cramer's Investment Club, Action Alerts PLUS. Click here to sign up!