In the second quarter of this year, the technology networking solutions maker surprised the market by increasing revenue by more than 30% year-over-year and earning nearly $900 million in net income. As interest from big players like Microsoft and Meta in its products continues to grow, management raised its full-year outlook. At the same time, however, investors are wondering whether the share price is still in line with reality after the sharp rise.
Top points of the analysis
- Q2 2025 revenue up 30.4% YoY to $2.2bn, beating market expectations.
- Net profit reached USD 888 million, EPS of USD 0.70 (non-GAAP USD 0.73), operating profit exceeded a billion for the first time.
- Gross margin of 65% was one of the highest in the technology sector, demonstrating the company's strong pricing power.
- Management raised its full-year growth guidance to 17% from the original 25 %signaling a continued demand boom.
- Key customers Microsoft and Meta are increasing investment in AI infrastructure, a key growth…
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