Arista hits $2 billion annual revenue rate, acquires Mojo for WiFi

Arista Networks reported revenue of $519.8 million for its second quarter of 2018, an increase of 10.0% compared to its first quarter of 2018, and an increase of 28.3% from the second quarter of 2017. GAAP gross margin was 64.2%.

GAAP net income of $150.7 million, or $1.86 per diluted share, compared to GAAP net income of $102.7 million, or $1.30 per diluted share, in the second quarter of 2017. Non-GAAP net income of $155.7 million, or $1.93 per diluted share, compared to non-GAAP net income of $105.5 million, or $1.34 per diluted share, in the second quarter of 2017.

“Arista is one of the fastest networking companies to achieve a $2 billion annual revenue rate, driven by its industry leadership in software-defined networking,” stated Jayshree Ullal, Arista President and CEO. “In Q2 2018 we comfortably surpassed the $500 million revenue mark with record profitability.”

Arista agreed to acquire Mojo Networks for its Cognitive WiFi and cloud-managed wireless networking.

“We are excited about Arista’s first acquisition transaction and its significance to Arista’s cognitive campus vision. We welcome the Mojo Networks employees to the Arista family,” stated Ms. Ullal. Financial terms were not disclosed. Mojo is based in Mountain View, California.