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SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Thursday reported fourth-quarter profit of $183 million.
On a per-share basis, the Santa Clara, California-based company said it had profit of $2.31. Earnings, adjusted for one-time gains and costs, came to $2.49 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.40 per share.
The cloud networking company posted revenue of $648.5 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $628.8 million.
For the year, the company reported profit of $634.6 million, or $7.99 per share. Revenue was reported as $2.32 billion.
For the current quarter ending in April, Arista Networks said it expects revenue in the range of $630 million to $650 million.
Arista Networks shares have risen slightly more than 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $308.85, a rise of 37% in the last 12 months.