Arista Networks, which provides networking for large data center and campus environments, reported better-than-expected third quarter financial results on Monday.
Non-GAAP net income for the third quarter was $236.9 million, or $2.96 per diluted share. Revenue was $748.7 million, an increase of 23.7% year-over-year.
Analysts were expecting earnings of $2.71 per share on revenue of $738.13 million. Arista had been predicting a revenue between $725 million and $745 million.
The report sent Arista shares up by 4.71% in late trading.
Jayshree Ullal, Arista’s president and CEO, said the company is experiencing strong demand for its client to cloud networking portfolio across all customer sectors.
“Despite a challenging supply chain environment, I am pleased with our delivery of another record quarter of Arista’s financial results in Q3 2021,” Ullal said.
For the fourth quarter of 2021, Arista expects revenue between $775 million to $795 million as well as a non-GAAP operating margin of approximately 37%.
“The business continued to perform well in the quarter, exceeding on all key financial metrics, while the team navigates a difficult supply environment,” said Ita Brennan, Arista’s CFO.
In September, it was announced that Arista was chosen to build a national campus network for Australian Securities Exchange.
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