Arista Networks, Inc. Q1 Profit Increases, beats estimates

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

The company's bottom line came in at $272.26 million, or $0.85 per share. This compares with $180.37 million, or $0.57 per share, in last year's first quarter.

Excluding items, Arista Networks, Inc. reported adjusted earnings of $268.51 million or $0.84 per share for the period.

Analysts on average had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 31.4% to $877.07 million from $667.56 million last year.

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

-Earnings (Q1): $272.26 Mln. vs. $180.37 Mln. last year. -EPS (Q1): $0.85 vs. $0.57 last year. -Analyst Estimate: $0.81 -Revenue (Q1): $877.07 Mln vs. $667.56 Mln last year.

-Guidance: Next quarter revenue guidance: $950 - $1000 Mln