Home Networking company Arista Networks: Overview of Second Quarter Results

Arista Networks: Overview of Second Quarter Results

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SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) reported second-quarter earnings of $299.1 million on Monday.

On a per-share basis, the Santa Clara, Calif.-based company said it earned 94 cents. Earnings, adjusted for one-time gains and costs, were $1.08 per share.

The results exceeded Wall Street expectations. The average estimate from 11 analysts polled by Zacks Investment Research was for earnings of 92 cents per share.

The cloud networking company posted $1.05 billion in revenue during the period, also beating Street’s forecast. Nine analysts polled by Zacks expected $976.4 million.

For the current quarter ending October, Arista Networks said it expects revenue in the range of $1.02 billion to $1.08 billion.

Arista Networks shares have fallen 18% since the start of the year. In the final minutes of trading on Monday, shares hit $117.54, up 24% over the past 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ANET at https://www.zacks.com/ap/ANET