Arista Networks, Inc. Q1 Profit Increases, beats estimates

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

The company's bottom line totaled $436.47 million, or $1.38 per share. This compares with $272.26 million, or $0.85 per share, in last year's first quarter.

Excluding items, Arista Networks, Inc. reported adjusted earnings of $452.46 million or $1.43 per share for the period.

Analysts on average had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 53.4% to $1.35 billion from $0.88 billion last year.

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

-Earnings (Q1): $436.47 Mln. vs. $272.26 Mln. last year. -EPS (Q1): $1.38 vs. $0.85 last year. -Analyst Estimate: $1.34 -Revenue (Q1): $1.35 Bln vs. $0.88 Bln last year.

-Guidance: Next quarter revenue guidance: $1.350 - $1.400 Bln