Why Arista Networks Stock Jumped This Morning
Shares of Arista Networks (NYSE: ANET) jumped as much as 6% this morning after the company reported fourth-quarter earnings. The results topped expectations and Arista also offered a rosy forecast. As of 12 p.m. EST, the stock had given back nearly all of those gains and was up less than 1%.
Revenue in the fourth quarter was $648.5 million, beating the consensus estimate of $630.3 million in sales. That resulted in adjusted net income of $197.7 million, or $2.49 per share, also ahead of the $2.39 per share in adjusted profits that Wall Street analysts were expecting. The networking technology company reported an adjusted gross margin of 65%.
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Source Fool.com
