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Arista Networks profit misses consensus by 38.7% in Q2

Arista Networks Inc. said its normalized net income for the second quarter was 28 cents per share, compared with the S&P Capital IQ consensus estimate of 46 cents per share.

EPS declined 29.3% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $20.3 million, a gain of 14.4% from $17.7 million in the year-earlier period.

The normalized profit margin dropped to 10.4% from 12.9% in the year-earlier period.

Total revenue climbed 41.8% year over year to $195.6 million from $137.9 million, and total operating expenses climbed 51.6% on an annual basis to $162.7 million from $107.3 million.

Reported net income grew 59.2% on an annual basis to $23.6 million, or 33 cents per share, from $14.9 million, or 34 cents per share.