Arista Networks: 2Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Thursday reported second-quarter earnings of $150.7 million.

The Santa Clara, California-based company said it had net income of $1.86 per share. Earnings, adjusted for one-time gains and costs, were $1.93 per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.

The cloud networking company posted revenue of $519.8 million in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $510.3 million.

For the current quarter ending in October, Arista Networks said it expects revenue in the range of $540 million to $552 million.

Arista Networks shares have risen 15 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $271.77, a climb of 89 percent 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