SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Arista Networks Inc. (ANET) on Tuesday reported third-quarter profit of $853 million.
The Santa Clara, California-based company said it had profit of 67 cents per share. Earnings, adjusted for one-time gains and costs, were 75 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The cloud networking company posted revenue of $2.31 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $2.26 billion.
For the current quarter ending in December, Arista Networks said it expects revenue in the range of $2.3 billion to $2.4 billion.
Arista Networks shares have climbed 39% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $153.55, a climb of 56% in the last 12 months.
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