Networking technology pioneer Arista Networks this afternoon reported Q4 revenue and profit that both topped Wall Street’s expectations, and an outlook for this quarter’s revenue that was higher as well.
The report sent Arista shares up 8% in late trading.
CEO and co-founder Jayshree Ullal said, “I am delighted with Arista’s record 2021 milestones in innovation, diversified customer momentum and earnings.
“We have executed well to establish Arista among the fastest growing networking companies in this decade.”
Said CFO Ita Brennan, “The Arista team has shown great resilience and flexibility throughout 2021, maintaining operational excellence in the face of industry-wide challenges and delivering our first billion-dollar cash flow year.”
Revenue in the three months ended in December rose to $824.5 million, yielding a net profit of 82 cents a share, excluding some costs.
Analysts had been modeling $790 million and 73 cents per share.
The company’s gross profit margin, on a non-GAAP basis, was 64.3%, down from 65% a year earlier and 64.9% in the prior quarter.
Cash from operations in the year rose to $1.015 billion, while capital investment was $64.7 million, leaving free cash flow of $950 million.
For the current quarter, the company sees revenue in a range of $840 million to $860 million, above consensus of $831.6 million.
Arista expects gross profit in a range of 63% to 64%, it said.
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