Arista Networks reported Q1 2017 revenue of $335.5 million, an increase of 2.3% compared to the fourth quarter of 2016, and an increase of 38.5% from the first quarter of 2016. GAAP gross margin was 63.9%, compared to GAAP gross margin of 64.1% in the fourth quarter of 2016 and 64.0% in the first quarter of 2016. GAAP net income was $83.0 million, or $1.07 per diluted share, compared to GAAP net income of $35.2 million, or $0.48 per diluted share, in the first quarter of 2016.
“As we kick off 2017, I am pleased with our performance this quarter,” stated Jayshree Ullal, Arista President and CEO. “We continue to experience meaningful relevance as customers shift to cloud networking.”
Commenting on the company’s financial results, Ita Brennan, Arista’s CFO, said, “We are pleased with our consistent execution in the first quarter and with our outlook for Q2, reflecting continued strong customer demand for our products.”
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