Arista Networks stock rallies as results, outlook beat Street
Arista Networks Inc. (ANET) shares rose in the extended session Tuesday after the cloud-software company's results and outlook topped Wall Street estimates. Arista shares gained 4.5% after hours, following a 2.9% decline in the regular session to close at $305.54. The company reported first-quarter net income of $180.4 million, or $2.27 a share, compared with $138.4 million, or $1.73 a share, in the year-ago period. Adjusted earnings were $2.50 a share, compared with $2.02 in the year-ago period. Revenue rose to $667.6 million from $523 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $2.39 a share on revenue of $644.9 million. Arista expects second-quarter revenue of $675 million to $695 million, while analysts had forecast revenue of $645.9 million.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 04, 2021 16:36 ET (20:36 GMT)
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