SANTA CLARA, Calif., July 25, 2019 – Shares of Arista Networks Inc. (NYSE: ANET) showed the bullish trend with a higher momentum of 0.60% to $278.01. The company traded total volume of 520.055K shares as contrast to its average volume of 1.03M shares. The company has a market value of $20.63B and about 74.66M shares outstanding.
Arista Networks Inc. (ANET) reported first-quarter net income of $201.0M. The Santa Clara, California-based company said it had net income of $2.47 per share. Earnings, adjusted for one-time gains and costs, were $2.31 per share. The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.
The cloud networking company posted revenue of $595.40M in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $594.20M. For the current quarter ending in July, Arista Networks said it expects revenue in the range of $600.0M to $610.0M.
The Company offered gross profit margin of 63.80% while beta factor was 1.57. The stock, as of recent close, has shown the weekly upbeat performance of 0.30% which was maintained at 31.16% in this year.
I am an active day trader spending the majority of my time analyzing earnings reports and watching commodities and derivatives. I have a Masters Degree in Economics from Westminster University with previous roles counting Investment Banking.
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