Arista Networks, Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Arista Networks, Inc. (ANET) announced a profit for first quarter that dropped from last year.

The company's earnings came in at $138.43 million, or $1.73 per share. This compares with $200.92 million, or $2.47 per share, in last year's first quarter.

Excluding items, Arista Networks, Inc. reported adjusted earnings of $161.69 million or $2.02 per share for the period.

Analysts had expected the company to earn $1.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.2% to $523.03 million from $595.42 million last year.

Arista Networks, Inc. earnings at a glance:

-Earnings (Q1): $161.69 Mln. vs. $187.73 Mln. last year. -EPS (Q1): $2.02 vs. $2.31 last year. -Analysts Estimate: $1.81 -Revenue (Q1): $523.03 Mln vs. $595.42 Mln last year.

-Guidance: Next quarter revenue guidance: $520 - $540 Mln