04:28 PM EDT, 05/07/2024 (MT Newswires) -- Arista Networks ( ANET ) reported Q1 non-GAAP earnings Tuesday of $1.99 per diluted share, up from $1.43 a year earlier.

Analysts surveyed by Capital IQ expected $1.74.

Revenue in the quarter ended March 31 rose to $1.57 billion from $1.35 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.55 billion.

The company expects Q2 revenue of $1.62 billion to $1.65 billion. Analysts surveyed by Capital IQ expect $1.62 billion.

The board authorized an additional program to repurchase up to $1.2 billion in stock, the company said.

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