Arista Networks, a networking firm, announced its second-quarter financial performance today, beating market expectations.
The firm earned an adjusted $0.54 per share, on revenue of $195.6 million during the three-month period. Investors had expected an adjusted $0.46 per-share profit, off of top line of $190.30 million. Arista managed net income of $23.9 million, measured using normal accounting techniques, and wrapped the period with $342.9 million in cash and equivalents. That figure does not include $208.8 million in marketable securities.
In the year-ago period, the firm had a slimmer $137.9 million revenue tally, putting its second quarter run this year up 41.8 percent compared to the comparable traunche of time. For sequential comparison, Arista earned $0.34 per share, on revenue of $179.04 million in the first quarter of this year.
So Arista had a strong quarter, besting expectations on both top and bottom lines. Investors, who sent shares of the company down several points in regular trading, have pushed Arista north modestly thus far in after hours.
Arista went public last year at $46 per share, putting its equity up more than 75 percent from its debut.
Looking ahead, Arista expects revenue between $208 million and $212 million. Those figures are up 6.3 percent and 8.4 percent on a sequential basis. For you finance kids, the firm expects a non-GAAP operating margin of “approximately 25 [percent]” during the quarter.