Arista Networks, Inc. Q1 Profit Increases, beats estimates

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

The company's bottom line totaled $637.69 million, or $1.99 per share. This compares with $436.47 million, or $1.38 per share, in last year's first quarter.

Excluding items, Arista Networks, Inc. reported adjusted earnings of $637.72 million or $1.99 per share for the period.

Analysts on average had expected the company to earn $1.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.3% to $1.57 million from $1.35 million last year.

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

-Earnings (Q1): $637.69 Mln. vs. $436.47 Mln. last year. -EPS (Q1): $1.99 vs. $1.38 last year. -Revenue (Q1): $1.57 Mln vs. $1.35 Mln last year.