Arista Networks reported Q2 revenue of $268.7 million, an increase of 11.0% compared to the first quarter of 2016, and an increase of 37.4% from the second quarter of 2015. Some highlights:
- GAAP gross margin of 63.8%, compared to GAAP gross margin of 64.0% in the first quarter of 2016 and 65.4% in the second quarter of 2015.
- Non-GAAP gross margin of 64.1%, compared to non-GAAP gross margin of 64.4% in the first quarter of 2016 and 65.8% in the second quarter of 2015.
- GAAP net income of $38.9 million, or $0.53 per diluted share, compared to GAAP net income of $24.0 million, or $0.33 per diluted share, in the second quarter of 2015.
"We are in the midst of a multi-year shift from legacy IT silos to cloud networking,” stated Jayshree Ullal, Arista President and CEO. “This quarter puts Arista at a billion-dollar run rate, which is a fitting validation of this trend, based on our innovative cloud-class, cloud-scale and cloud-converged offerings.”
Commenting on the company's financial results, Ita Brennan, Arista’s CFO, said, “We are pleased with our financial performance in the second quarter which reflects strong adoption of our new products and consistent operational execution.”