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Arista Networks profit misses consensus by 18.7% in Q1

Arista Networks Inc. said its first-quarter normalized net income amounted to 30 cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS decreased 15.3% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $21.5 million, an increase of 77.2% from $12.2 million in the prior-year period.

The normalized profit margin increased to 12.0% from 10.4% in the year-earlier period.

Total revenue rose 52.8% year over year to $179.0 million from $117.2 million, and total operating expenses increased 50.5% year over year to $143.3 million from $95.2 million.

Reported net income grew 253.2% on an annual basis to $24.1 million, or 34 cents per share, from $6.8 million, or 20 cents per share.