Arista Networks (NYSE:ANET) shares jumped more than 21% intra-day today following the release of better-than-expected Q2 results and guidance.
During the second quarter, Arista reported a profit per share of $1.58 on revenue amounting to $1.46 billion, outperforming the Street estimate of earnings at $1.44 per share on revenue of $1.38 billion. However, the company mentioned that the adjusted gross margin contracted by 60 basis points year-over-year, settling at 61.3%.
Looking ahead to Q3, Arista anticipates revenue to fall within the range of $1.45 billion to $1.5 billion, surpassing the Street estimate of $1.39 billion.
