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SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Arista Networks Inc. (ANET) on Monday reported fourth-quarter profit of $613.6 million.
The Santa Clara, California-based company said it had profit of $1.92 per share. Earnings, adjusted for one-time gains and costs, were $2.08 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.71 per share.
The cloud networking company posted revenue of $1.54 billion in the period, also topping Street forecasts. Ten analysts surveyed by Zacks expected $1.53 billion.
For the current quarter ending in March, Arista Networks said it expects revenue in the range of $1.52 billion to $1.56 billion.
Arista Networks shares have climbed 19% since the beginning of the year. In the final minutes of trading on Monday, shares hit $280.88, more than doubling in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ANET at https://www.zacks.com/ap/ANET