FX.co ★ Arista Networks, Inc. Q1 Profit Increases, beats estimates

Arista Networks, Inc. recently announced an increase in their first quarter earnings compared to last year, surpassing Wall Street's predictions. The company's net income amounted to $637.69 million, which translates to $1.99 per share. This shows a noticeable uptick from the $436.47 million or $1.38 per share of the same period last year.

When taking into account various factors, Arista Networks reported an adjusted earning of $637.72 million or $1.99 per share for the quarter. Analysts had anticipated the company to earn an average of $1.74 per share, based on data gathered by Thomson Reuters, which generally does not consider unique items.

The company's quarter revenue saw a 16.3% rise, jumping from $1.35 million last year to reach $1.57 million.

To summarize the performance of Arista Networks in the first quarter according to GAAP:

Earnings rose from last year's $436.47 million to reach $637.69 million this year.

Per share earnings increased from $1.38 last year to $1.99 this year.

First quarter revenue hit $1.57 million, up from $1.35 million last year.