SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Tuesday reported second-quarter net income of $144.8 million.
On a per-share basis, the Santa Clara, California-based company said it had profit of $1.83. Earnings, adjusted for one-time gains and costs, were $2.11 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.97 per share.
The cloud networking company posted revenue of $540.6 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $530 million.
For the current quarter ending in October, Arista Networks said it expects revenue in the range of $570 million to $590 million.
Arista Networks shares have increased 30% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $263.99, a climb of 14% in the last 12 months.
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
Automated Insights, source Associated Press News