Arista Networks (ANET) reported fourth-quarter results that beat analysts’ estimates, and offered a better-than-expected outlook.
The cloud networking company posted fourth-quarter revenue of $1.93 billion, up 7% year-over-year, and above the analyst consensus tracked by Visible Alpha. Arista’s adjusted earnings rose to $830.1 million, or 65 cents per share, from $664.3 million, or 52 cents per share, a year earlier, topping projections.
CFO Chantelle Breithaupt said Arista’s results allowed the company to “continue to invest in strategic initiatives” such as artificial intelligence, even in the face of economic uncertainty.
Looking ahead, Arista said it anticipates first-quarter revenue of $1.93 billion to $1.97 billion, above the analyst consensus.
Arista shares wavered between slight gains and losses in extended trading Tuesday following the release. The stock has surged about 70% over the past year through Tuesday’s close.
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