Arista Networks: Q1 Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Tuesday reported first-quarter earnings of $180.4 million.

The Santa Clara, California-based company said it had profit of $2.27 per share. Earnings, adjusted for one-time gains and costs, were $2.50 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.38 per share.

The cloud networking company posted revenue of $667.6 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $640.4 million.

For the current quarter ending in July, Arista Networks said it expects revenue in the range of $675 million to $695 million.

Arista Networks shares have risen slightly more than 5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $306.22, an increase of 45% in the last 12 months.


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