Arista Networks Inc. reported strong financial results for the second quarter of 2025, surpassing analyst expectations on both earnings per share (EPS) and revenue. The company posted an adjusted EPS of $0.73, beating estimates of $0.65, and generated revenue of $2.21 billion, exceeding the consensus estimate of $2.10 billion. This revenue figure represents a 30.4% increase year-over-year. Gross margin stood at 65.2%, and net income reached $888.8 million. For the third quarter of 2025, Arista forecasted revenue of approximately $2.25 billion, above the estimated $2.12 billion. The company highlighted that software and service renewals accounted for approximately 16.3% of revenue in Q2. Following the earnings release, Arista's stock surged, reaching an all-time high of $139.50, with analysts such as Needham raising the price target to $155 and maintaining Buy ratings from firms including Goldman Sachs and JPMorgan Chase. Demand from major clients like Microsoft and Meta contributed to the positive outlook. Separately, Fortinet Inc. also reported its second-quarter 2025 results, with revenue of $1.63 billion, matching estimates, and EPS of $0.64, beating expectations of $0.59. Fortinet's billings increased 15% year-over-year to $1.78 billion, with Unified SASE ARR up 22% and Security Operations ARR up 35%. The company projected third-quarter revenue between $1.67 billion and $1.73 billion and adjusted EPS between $0.62 and $0.64.