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Arista Networks Q2 profit climbs 121.7% YOY

Arista Networks Inc. said its second-quarter normalized net income amounted to 93 cents per share, compared with the S&P Capital IQ consensus estimate of 95 cents per share.

EPS climbed 104.9% year over year from 45 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $73.2 million, an increase of 121.7% from $33.0 million in the year-earlier period.

The normalized profit margin rose to 18.1% from 12.3% in the year-earlier period.

Total revenue climbed 50.8% on an annual basis to $405.2 million from $268.7 million, and total operating expenses increased 33.9% on an annual basis to $288.6 million from $215.6 million.

Reported net income grew 165.2% on an annual basis to $102.5 million, or $1.30 per share, from $38.6 million, or 53 cents per share.