Arista Networks (ANET) Tops Q1 EPS by 7c

Arista Networks (NYSE: ANET) reported Q1 EPS of $0.93, $0.07 better than the analyst estimate of $0.86. Revenue for the quarter came in at $335.5 million versus the consensus estimate of $326.17 million.

• Revenue of $335.5 million, an increase of 2.3% compared to the fourth quarter of 2016, and an increase of 38.5% from the first quarter of 2016.
• GAAP gross margin of 63.9%, compared to GAAP gross margin of 64.1% in the fourth quarter of 2016 and 64.0% in the first quarter of 2016.
• Non-GAAP gross margin of 64.2%, compared to non-GAAP gross margin of 64.4% in the fourth quarter of 2016 and 64.4% in the first quarter of 2016.
• GAAP net income of $83.0 million, or $1.07 per diluted share, compared to GAAP net income of $35.2 million, or $0.48 per diluted share, in the first quarter of 2016.
• Non-GAAP net income of $71.8 million, or $0.93 per diluted share, compared to non-GAAP net income of $49.1 million, or $0.68 per diluted share, in the first quarter of 2016.

“As we kick off 2017, I am pleased with our performance this quarter,” stated Jayshree Ullal, Arista President and CEO. “We continue to experience meaningful relevance as customers shift to cloud networking.”

For earnings history and earnings-related data on Arista Networks (ANET) click here.

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