Arista Networks, Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Arista Networks, Inc. (ANET) released earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $299.10 million, or $0.94 per share. This compares with $196.89 million, or $0.62 per share, in last year's second quarter.

Excluding items, Arista Networks, Inc. reported adjusted earnings of $342.68 million or $1.08 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 47.9% to $1.05 million from $0.71 million last year.

Arista Networks, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $299.10 Mln. vs. $196.89 Mln. last year. -EPS (Q2): $0.94 vs. $0.62 last year. -Analyst Estimate: $0.91 -Revenue (Q2): $1.05 Mln vs. $0.71 Mln last year.

-Guidance: Next quarter revenue guidance: $1.025 - $1.075 Bln