Arista Networks Shares Rally 14% As Results, Outlook Beat Wall Street Estimates
Arista Networks Inc. shares rallied in the extended session Thursday after the cloud-networking software company's quarterly results and outlook topped Wall Street estimates. Arista shares surged 14% to $165 after hours. The company reported second-quarter net income of $102.7 million, or $1.30 a share, compared to $38.9 million, or 53 cents a share, in the year-ago period. Adjusted earnings were $1.34 a share. Revenue rose to $405.2 million from $268.7 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 95 cents a share on revenue of $360.9 million. For the third quarter, Arista estimates revenue of $405 million to $420 million. Analysts expect revenue of $377.7 million.
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