Why Arista Networks Inc. Stock Rose 18% in August

Shares of Arista Networks (NYSE: ANET) gained 18% in August, according to data from S&P Global Market Intelligence. The cloud-based networking specialist crushed Wall Street's estimates in a second-quarter report that was delivered early in the month. Arista shares soared 21% higher the next day and never looked back.

Arista's top-line revenue increased 51% in the second quarter compared to the year-ago period. Landing at $405 million, the sales figure exceeded the consensus analyst estimate by $45 million, or 12%. On the bottom line, adjusted earnings surged 81% higher to stop at $1.34 per share. Here, the Street would have settled for $0.95 per share.

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Source: Fool.com