Arista Networks Inc.
ANET,
-2.91%
shares rose in the extended session Tuesday after the cloud-software company’s results and outlook topped Wall Street estimates. Arista shares gained 4.5% after hours, following a 2.9% decline in the regular session to close at $305.54. The company reported first-quarter net income of $180.4 million, or $2.27 a share, compared with $138.4 million, or $1.73 a share, in the year-ago period. Adjusted earnings were $2.50 a share, compared with $2.02 in the year-ago period. Revenue rose to $667.6 million from $523 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $2.39 a share on revenue of $644.9 million. Arista expects second-quarter revenue of $675 million to $695 million, while analysts had forecast revenue of $645.9 million.