Boston, MA 09/02/2014 (wallstreetpr) – Arista Networks Inc (NYSE:ANET) is catching a lot more attention of the investors after it reported its second quarterly results. It reported the revenue of $137.9 million, up 65.2% comparable to the 2Q2013. It was the rise of 17.7% sequentially. The GAAP gross margin came at 67.7% comparable to 64.6% in the 2Q2013. The stock had a good run in last month as it saw a boost on the earnings estimates for the third quarter.
The estimates revision
The positive earnings estimate revisions came from both the management as well as the analysts. In last one month, three analysts have revised their earnings estimates for Arista Networks Inc (NYSE:ANET). The earnings estimates are revised to 16 cents per share as compared to 6 cents per share a month ago. It is the rise of huge 166.7% in just one month.
Arista Networks Inc (NYSE:ANET) Management provided the revenue estimate for the third quarter in the range of $142 to $150 million. The non-GAAP gross margin and GAAP gross margin both are expected to come in a range of 64% to 66%. The non-GAAP operating margin is expected to come in a range of 19% to 22%. Arista had 2,700 customers in the second quarter. All the four verticals showed solid growth. The non-GAAP net income of Arista rose by 92.5% in the second quarter.
The future ahead
The analysts are not only positive on the third quarter but also expect Arista Networks Inc (NYSE:ANET) to post earnings of 78 cents per share in the current year as compared to the previous estimate of 57 cents per share. The revised earnings estimate suggests that analysts are expecting impressive performance from Arista in coming time. The consensus estimates have shown significant improvement. Investors are taking note of the revised estimates as stock has added more than 20% in last four weeks.
