SANTA CLARA, Calif. (AP) _ Arista Networks Inc. (ANET) on Thursday reported fourth-quarter net income of $260.7 million.
On a per-share basis, the Santa Clara, California-based company said it had profit of $3.25. Earnings, adjusted for one-time gains and costs, came to $2.29 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.09 per share.
The cloud networking company posted revenue of $552.5 million in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $550.6 million.
For the year, the company reported profit of $859.9 million, or $10.63 per share. Revenue was reported as $2.41 billion.
For the current quarter ending in April, Arista Networks said it expects revenue in the range of $522 million to $532 million.
Arista Networks shares have risen 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $237.92, a climb of almost 1% in the last 12 months.