News Formal

Arista Networks shares rise more than 20% on better-than-expected earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

The networking company reported earnings after the bell and guided towards another strong quarter.

released Monday showed stronger-than-expected revenue and profit growth.

The company reported second quarter revenue of $1.46 billion, beating Refinitiv consensus estimates of $1.38 billion and up nearly 39% from the year-ago quarter. Arista also reported adjusted earnings of $1.58 per share, compared to consensus estimates of $1.44 per share. GAAP net income came in at $492 million, up 64% from $299 million in the year-ago quarter.

The company also offered strong guidance of between $1.45 billion and $1.5 billion for Q3 revenue, ahead of consensus estimates of $1.39 billion according to analysts surveyed by Factset.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lattice Semiconductor and Rambus shares fall after results, and other stocks on the moveArista Networks, Uber Technologies, Lattice Semiconductor and Rambus are among the stocks in the spotlight.
Source: MarketWatch - 🏆 3. / 97 Read more »