Arista Networks Inc. rocketed 18% to a record high Friday, following the company’s strong earnings report. In after-hours trade Thursday, Arista, which sells communications switches that compete with Cisco Systems Inc. , topped fourth-quarter sales and non-GAAP earnings expectations and provided a revenue outlook for the current quarter well above the consensus estimate. Friday’s moved mark Arista stock’s second-biggest percentage-gain in history, helping the stock to notch an all-time high. Its shares have climbed more than 34% in the past three months and nearly 98% in the past year, vastly outperforming the S&P 500 , up 7.4% in the past three months and 22% in the past year. Earlier this week, Cisco also reported earnings that topped expectations but revenue declines in its core switching and routing businesses.
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