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Arista Networks posts higher revenue, profit jump

Arista Networks Inc. nearly doubled its GAAP net income in the last quarter of 2017 to $103.8 million from $58.8 million in the year-ago period.

Diluted GAAP earnings per share came in at $1.29 in quarter, up from 79 cents in the fourth quarter of 2016. Fourth-quarter revenue was $467.9 million in 2017, 42.7% higher than the $328.0 million posted in 2016.

The communications equipment company reported GAAP net income of $423.2 million for the full year 2017, up from $184.2 million of 2016. Diluted GAAP earnings for 2017 were $5.35 per share, up from $2.50 per share in 2016.

For full year 2017, the company posted revenue of $1.06 billion, up from $723.1 million for the prior year.

For the first quarter of 2018, Arista expects revenue in the range of $450 million to $468 million.