The company reported a profit of $1.21 billion, or 95 cents a share, a sharp rise from the $888.8 million, or 70 cents a share, recorded during the same period last year. Excluding one-time items, adjusted earnings hit $1.02 per share, comfortably outperforming the 89-cent consensus forecast from analysts polled by FactSet. Revenue also exceeded expectations, comfortably clearing the projected $2.83 billion.
In section Market Quotes
Arista Networks Shares Surge as Q2 Earnings Beat Estimates
Arista Networks shares climbed 12% in after-hours trading to $214 after the networking infrastructure firm posted a significant second-quarter earnings beat. The company surpassed analyst expectations on both profit and revenue, fueled by a 38% increase in sales that pushed total quarterly revenue to $3.04 billion.
Looking ahead, Arista issued an upbeat outlook for the third quarter. Management expects adjusted earnings between $1.06 and $1.08 per share on revenue of approximately $3.3 billion, well above the 92 cents per share on $2.95 billion in revenue that analysts had previously anticipated.
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