By Denny Jacob
Arista Networks logged higher top- and bottom-line results in the latest quarter, signaling that demand for cloud and artificial-intelligence offerings remains strong.
The cloud networking solutions developer logged net income of $545.3 million, or $1.72 a share, for the third quarter ended Sept. 30, up from $354 million, or $1.13 a share, a year earlier. Adjusted earnings were $1.83 a share, above analysts’ estimates of $1.58 a share.
Revenue climbed to $1.51 billion from $1.18 billion. Analysts polled by FactSet expected $1.48 billion.
For the fourth quarter, Arista expects revenue in the range of $1.5 to $1.55 billion. Analysts polled by FactSet expected $1.47 billion.
“Customer momentum remained strong in both enterprise and cloud/AI sectors,” said Chief Executive Jayshree Ullal.
Write to Denny Jacob at denny.jacob@wsj.com
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