Arista Networks: 3Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Thursday reported third-quarter profit of $168.5 million.
On a per-share basis, the Santa Clara, California-based company said it had net income of $2.08. Earnings, adjusted for one-time gains and costs, were $2.11 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.85 per share.
The cloud networking company posted revenue of $563.3 million in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $547.1 million.
For the current quarter ending in December, Arista Networks said it expects revenue in the range of $582 million to $594 million.
Arista Networks shares have climbed roughly 3 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $242.02, a rise of 23 percent in the last 12 months.