Arista Networks (ANET) late Thursday reported adjusted third-quarter profit and revenue above estimates as December-quarter guidance also topped expectations. Arista stock popped in after-hours trading.
XShares in the maker of computer network switches for cloud data centers surged 10.3% to 265.73 in after-hours trading on the stock market today.
The computer network gear maker said adjusted earnings were $2.11 a share, up 30% from a year ago, with revenue rising 29% to $563.3 million, topping analyst forecasts. A year earlier, Arista earned $1.62 a share on sales of $438 million.
Analysts expected Arista, a rival of Cisco Systems (CSCO), to report earnings of $1.84 on sales of $450.9 million for the period ended Sept. 30.
The company said it expects revenue of $588 million in the December quarter, just above estimates of $586 million.
Arista Stock: Top Customers
Arista sells network switches that speed up communications among racks of computer servers packed into high-performance, "hyperscale" data centers. Its top customers include Facebook (FB) and Microsoft (MSFT).
Arista stock is up 22% from a year ago. Arista stock fell in February when it lowered revenue growth expectations for 2018. The stock has been consolidating over seven months.
Analysts say Arista could get a boost in 2019 from sales to corporate customers. There's also possible upside as internet customers upgrade to 400-gigabit-per-second communications in data centers from 100-Gbps products.
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The post Arista Stock Pops As Earnings, Revenue, Guidance Top Expectations appeared first on Investor's Business Daily.
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