SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Arista Networks Inc. (ANET) on Tuesday reported second-quarter net income of $888.8 million.
On a per-share basis, the Santa Clara, California-based company said it had net income of 70 cents. Earnings, adjusted for one-time gains and costs, were 73 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The cloud networking company posted revenue of $2.2 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $2.11 billion.
For the current quarter ending in September, Arista Networks said it expects revenue in the range of $2.25 billion.
Arista Networks shares have climbed 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $118.49, a rise of 50% 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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