Arista Networks, Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Arista Networks, Inc. (ANET) released a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $354.00 million, or $1.13 per share. This compares with $224.31 million, or $0.70 per share, in last year's third quarter.

Excluding items, Arista Networks, Inc. reported adjusted earnings of $391.92 million or $1.25 per share for the period.

Analysts on average had expected the company to earn $1.04 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 57.3% to $1.18 billion from $0.75 billion last year.

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

-Earnings (Q3): $354.00 Mln. vs. $224.31 Mln. last year. -EPS (Q3): $1.13 vs. $0.70 last year. -Analyst Estimate: $1.04 -Revenue (Q3): $1.18 Bln vs. $0.75 Bln last year.

-Guidance: Next quarter revenue guidance: 1.175 - $1.200 Bln