Shares of Arista Networks (NYSE:ANET) climbed 32.8% in February, according to data from S&P Global Market Intelligence, after the networking products company announced strong fourth-quarter 2018 results.
Arista stock popped nearly 10% on Feb. 15, 2019, alone, the first trading day after its report hit the wires, then continued to drift higher from there.
More specifically, Arista's quarterly revenue climbed 27% year over year, to $595.7 million -- well above guidance provided in November for between $582 million and $594 million -- which translated to a 33% increase in adjusted net income to $182.2 million, or $2.25 per share.
Arista CEO Jayshree Ullal credited "continued momentum across cloud titan and enterprise verticals," which helped to secure the company's central position as a growing number of customers deploy cloud-networking solutions.
What's more, Arista told investors to expect revenue in the current first quarter of 2019 to be between $588 million and $598 million, up more than 25% year over year at the midpoint. Analysts, on average, were modeling first-quarter revenue near the low end of that range.
In the end, this straightforward quarterly beat followed by better-than-expected forward guidance left the market little choice but to bid up Arista Networks' stock in response.