Arista Networks: 4Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Thursday reported fourth-quarter earnings of $170.3 million.
The Santa Clara, California-based company said it had profit of $2.10 per share. Earnings, adjusted for one-time gains and costs, were $2.25 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.04 per share.
The cloud networking company posted revenue of $595.7 million in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $589.1 million.
For the year, the company reported profit of $328.1 million, or $4.06 per share. Revenue was reported as $2.15 billion.
For the current quarter ending in April, Arista Networks said it expects revenue in the range of $588 million to $598 million.
Arista Networks shares have climbed 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $240.81, a fall of 20 percent in the last 12 months.