Arista Networks Reports Strong Q4 Earnings, Exceeding Analyst Expectations
SANTA CLARA, Calif. - Arista Networks, Inc. (ANET) announced net income of $801 million for the fourth quarter, surpassing Wall Street estimates.
Adjusted earnings, excluding one-time gains and costs, reached 65 cents per share, beating the consensus forecast of 57 cents per share provided by eight analysts surveyed by Zacks Investment Research.
The cloud networking company generated revenue of $1.93 billion, also exceeding analyst expectations. Seven analysts polled by Zacks anticipated revenue of $1.89 billion.
For the current quarter ending in March, Arista Networks projects revenue between $1.93 billion and $1.97 billion.
Since the beginning of the year, ANET shares have witnessed a modest increase. At the close of trading on Tuesday, shares stood at $111.06, marking a 67% gain from the previous 12 months.