Arista Networks, Inc. Q2 Profit Increases, beats estimates

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

The company's bottom line totaled $491.9 million, or $1.55 per share. This compares with $299.1 million, or $0.94 per share, in last year's second quarter.

Excluding items, Arista Networks, Inc. reported adjusted earnings of $501.2 million or $1.58 per share for the period.

Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 39.0% to $1.46 billion from $1.05 billion last year.

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

-Earnings (Q2): $491.9 Mln. vs. $299.1 Mln. last year. -EPS (Q2): $1.55 vs. $0.94 last year. -Analyst Estimate: $1.44 -Revenue (Q2): $1.46 Bln vs. $1.05 Bln last year.

-Guidance: Next quarter revenue guidance: $1.450 to $1.500 bln