Arista Networks, Inc. Q3 Profit Increases, beats estimates

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

The company's earnings came in at $545.3 million, or $1.72 per share. This compares with $354.0 million, or $1.13 per share, in last year's third quarter.

Excluding items, Arista Networks, Inc. reported adjusted earnings of $581.4 million or $1.83 per share for the period.

Analysts on average had expected the company to earn $1.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 25.0% to $1.5 billion from $1.2 billion last year.

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

-Earnings (Q3): $545.3 Mln. vs. $354.0 Mln. last year. -EPS (Q3): $1.72 vs. $1.13 last year. -Analyst Estimate: $1.58 -Revenue (Q3): $1.5 Bln vs. $1.2 Bln last year.

-Guidance: Next quarter revenue guidance: $1.50bln - $1.55bln