Arista Networks' stock experienced a sharp after-hours plunge of 5.12% on Tuesday, following the release of the company's first-quarter financial results.

The network infrastructure company reported both earnings and revenue that exceeded analyst expectations. First-quarter adjusted earnings came in at $0.87 per share, beating the FactSet consensus estimate of $0.81. Revenue rose 35% year-over-year to $2.71 billion, also surpassing the expected $2.62 billion. For the second quarter, the company provided guidance for revenue of approximately $2.8 billion and adjusted earnings of about $0.88 per share, which is slightly above current analyst forecasts.

Despite the strong quarterly performance and in-line guidance, the stock sold off in post-market trading. This movement is often attributed to a "sell the news" reaction, as the stock had appreciated significantly, closing the regular session up 30% year-to-date, potentially pricing in high expectations that the reported results did not sufficiently exceed.