Arista Networks Inc ANET.N reported quarterly adjusted earnings of 73 cents per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 53 cents. The mean expectation of eighteen analysts for the quarter was for earnings of 65 cents per share. Wall Street expected results to range from 61 cents to 67 cents per share.
Revenue rose 30.4% to $2.20 billion from a year ago; analysts expected $2.11 billion.
Arista Networks Inc's reported EPS for the quarter was 70 cents.
The company reported quarterly net income of $888.8 million.
Arista Networks Inc shares had risen by 17.6% this quarter and gained 8.9% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had risen by about 2.8% in the last three months.
In the last 30 days, there have been no negative revisions of earnings estimates
RECOMMENDATIONS
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell." The average consensus recommendation for the communications & networking peer group is also "buy"
Wall Street's median 12-month price target for Arista Networks Inc is $111.67, about 5.8% below its last closing price of $118.12
This summary was machine generated from LSEG data August 5 at 09:01 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)