Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Arista Networks Stock Rocketed Higher Today

TheMotleyFool

0 0

Why Arista Networks Stock Rocketed Higher Today: https://g.foolcdn.com/editorial/images/742250/a-system-administrator-setting-up-server-network-in-a-data-center-lit-by-neon-light.jpg

Shares of Arista Networks (NYSE: ANET) charged sharply higher Tuesday, spiking as much as 22.9%. As of 3:24 p.m. ET, the stock was still up 19%.

The catalyst that sent the high-speed networking solutions provider soaring was its quarterly results, generating record double-digit growth on both the top and bottom lines, which was far better than investors had hoped for.

For the second quarter, Arista generated record revenue of $1.5 billion, an increase of 39% year over year and up 8% sequentially. This resulted in non-GAAP (adjusted) earnings per share (EPS) of $1.58, which jumped 46%.

Source Fool.com