SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Arista Networks Inc. (ANET) on Thursday reported fourth-quarter net income of $955.8 million.
On a per-share basis, the Santa Clara, California-based company said it had net income of 75 cents. Earnings, adjusted for one-time gains and costs, were 82 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The cloud networking company posted revenue of $2.49 billion in the period, also topping Street forecasts. Seven analysts surveyed by Zacks expected $2.37 billion.
For the year, the company reported profit of $3.51 billion, or $2.75 per share. Revenue was reported as $9.01 billion.
For the current quarter ending in March, Arista Networks said it expects revenue in the range of $2.6 billion.
Arista Networks shares have increased 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $135.12, a rise of 23% in the last 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
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