Why Arista Networks Stock Popped Today
Shares of Arista Networks (NYSE: ANET) have popped as much as 6% today after the company reported first-quarter earnings. The results easily topped analyst expectations.
Revenue in the first quarter came in at $667.6 million, comfortably above the consensus estimate of $644.9 million. That resulted in adjusted net income of $198.8 million, or $2.50 per share. Wall Street was modeling for just $2.39 per share in adjusted profits. The networking technology company said adjusted gross margin was 64.7%.
Image source: Getty Images.
Source Fool.com
