Arista Networks: 2Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Thursday reported second-quarter earnings of $150.7 million.
The Santa Clara, California-based company said it had net income of $1.86 per share. Earnings, adjusted for one-time gains and costs, were $1.93 per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.
The cloud networking company posted revenue of $519.8 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $510.3 million.
For the current quarter ending in October, Arista Networks said it expects revenue in the range of $540 million to $552 million.
Arista Networks shares have risen 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $271.77, a climb of 89 percent in the last 12 months.