Arista Networks: Q4 Earnings Snapshot

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SANTA CLARA, Calif. (AP) — SANTA CLARA, Calif. (AP) — Arista Networks Inc. (ANET) on Tuesday reported fourth-quarter net income of $801 million.

The Santa Clara, California-based company said it had net income of 62 cents per share. Earnings, adjusted for one-time gains and costs, came to 65 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The cloud networking company posted revenue of $1.93 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $1.89 billion.

For the year, the company reported profit of $2.85 billion, or $2.23 per share. Revenue was reported as $7 billion.

For the current quarter ending in March, Arista Networks said it expects revenue in the range of $1.93 billion to $1.97 billion.

Arista Networks shares have increased slightly since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $111.06, a climb of 67% 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