Arista Networks: Q3 Earnings Snapshot

SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Arista Networks Inc. (ANET) on Monday reported third-quarter earnings of $545.3 million.

On a per-share basis, the Santa Clara, California-based company said it had net income of $1.72. Earnings, adjusted for one-time gains and costs, came to $1.83 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.58 per share.

The cloud networking company posted revenue of $1.51 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $1.48 billion.

For the current quarter ending in December, Arista Networks said it expects revenue in the range of $1.5 billion to $1.55 billion.

Arista Networks shares have climbed 45% since the beginning of the year. In the final minutes of trading on Monday, shares hit $175.72, an increase of 45% 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