ANET · Technology

Arista Networks, Inc.

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: everything published this earnings window

News · 2026-11-07

• Revenue Performance and MixImportance 37 · Surprise 6
  Arista reported third-quarter revenue of US$3.7 billion, 9.7% above analyst estimates. The results were described as strong, but the reporting provided no year-over-year or sequential revenue growth rate. Statutory…

News · 2026-11-06

• Revenue Performance and MixImportance 77 · Surprise 82
  Third-quarter 2026 revenue increased 58.5% year over year to $3.66 billion, Arista’s highest year-over-year growth rate since its IPO. Revenue exceeded the Zacks consensus estimate of $3.31 billion by 10.4%. Non-GAAP…
• Guidance and OutlookImportance 34 · Surprise 42
  A November 6, 2026, third-party report says Arista management expects a substantial revenue increase in 2027. The report attributes the outlook to accelerating demand for AI networking. It provides no quantified 2027…

News · 2026-11-05

• Revenue Performance and MixImportance 69 · Surprise 64
  Arista Networks’ Q3 2026 revenue rose 58.5% year over year to $3.66 billion, exceeding the $3.31 billion consensus estimate by 10.41%. The company’s reported annual revenue growth was its strongest since its IPO, with…
• AI Infrastructure DemandImportance 26 · Surprise 24
  Third-party reporting attributed Arista’s strong growth to robust demand for AI networking and enterprise expansion. Arista surpassed 100 Etherlink customers, indicating continued customer adoption of the product. The…

News · 2026-11-04

• AI Infrastructure DemandImportance 100 · Surprise 100
  Arista’s AI fabrics revenue is expected to double to approximately $7 billion in 2027, while the company has surpassed 100 Etherlink customers. Management expects cognitive campus revenue to rise 60% to approximately…
• Guidance and OutlookImportance 95 · Surprise 92
  CEO Jayshree Ullal projected approximately $18.5 billion in 2027 revenue, representing 38%–40% growth. Management expects AI fabrics revenue to double to approximately $7 billion in 2027 and cognitive campus revenue to…
• Revenue Performance and MixImportance 69 · Surprise 64
  Arista reported Q3 FY2026 revenue of $3.66 billion, up 58.5% year over year and above guidance of $3.3 billion. The quarter marked the company’s strongest annual revenue growth since its IPO. International revenue was…
• Net Income and ProfitabilityImportance 62 · Surprise 46
  Arista reported Q3 FY2026 net income of $1.56 billion, or $1.5 billion as rounded in the earnings summary. Net income represented 41.9% of revenue. Diluted EPS was $1.20, up 55.8% year over year from $0.77, on 1.278…
• Operating Expense TrendsImportance 58 · Surprise 56
  Q3 FY2026 operating expenses were $545.3 million, or 14.9% of revenue, compared with $411 million in the prior quarter. R&D expense rose to $408.5 million from $278.1 million sequentially, an increase of about 47%.…
• AI Network TechnologyImportance 40 · Surprise 42
  Arista CEO Jayshree Ullal described a shift toward a “network-centric approach” to AI, in which network performance affects AI factory productivity and GPU utilization. The company’s positioning includes support for…
• Gross Margin DriversImportance 36 · Surprise 14
  Q3 FY2026 gross margin was 64%, down from 65.2% a year earlier but up from 63.4% in the prior quarter. Operating income was $1.8 billion, equal to 49.1% of revenue. The earnings-call report also described operating…
• AI Infrastructure PositioningImportance 26 · Surprise 24
  CEO Jayshree Ullal said scale-up revenue is unlikely to be material until 2028, distinguishing its nearer-term AI networking opportunity from scale-up deployments. Arista anticipates significant growth in scale-out and…
• Supply Chain ConstraintsImportance 20 · Surprise 24
  A report on Arista’s 2027 expansion plan identifies whether suppliers can support the projected pace of growth as an investor pressure point. The same report says management addressed supply constraints and the timing…

Earnings call · 2026-11-03

• Revenue Guidance and OutlookImportance 95 · Surprise 92
  Arista raised its FY 2026 revenue guidance to $13.3 billion, representing 48% annual growth, and forecast Q4 revenue of $3.9 billion to $4.0 billion. The initial FY 2027 outlook is 38% to 40% revenue growth, or…
• Revenue Performance and MixImportance 69 · Surprise 64
  Q3 2026 revenue was approximately $3.66 billion, up 58.5% year over year and above the $3.3 billion guidance. International revenue was $682.5 million, or 18.6% of total revenue, down from 23% in Q2 as sales mix…
• Operating Income and MarginsImportance 60 · Surprise 24
  Q3 operating income was $1.8 billion, equal to 49.1% of revenue. Management attributed the result to investing in innovation while expanding profitability. The CFO forecast Q4 operating margin of 48% to 49% and FY 2027…
• Net Income and ProfitabilityImportance 58 · Surprise 46
  Q3 net income was $1.53 billion, or 41.9% of revenue, after favorable other income and expense of $138.6 million. Diluted EPS was $1.20, up 55.8% from $0.77 in the prior-year quarter. Diluted shares were 1.278 billion.
• Operating Expense TrendsImportance 52 · Surprise 56
  Q3 operating expenses were $545.3 million, or 14.9% of revenue, compared with $411 million in Q2. R&D expense rose to $408.5 million from $278.1 million in Q2, reflecting investment in liquid cooling, high-radix…
• Liquidity and Cash PositionImportance 41 · Surprise 14
  Cash, cash equivalents and marketable securities totaled approximately $14.4 billion at quarter-end, up from $13.3 billion at the end of Q2. Arista reported zero debt in management’s discussion of its financial…
• Supply Chain CommitmentsImportance 38 · Surprise 42
  Management said it has been investing heavily in long-term strategic agreements to secure silicon, PCB capacity, and memory. It expressed high confidence in delivering supply to its forecast, while noting that it has…
• Product Launch and TransitionImportance 38 · Surprise 42
  Arista said its Etherlink portfolio includes at least 25 switches designed for scale-up, scale-out and scale-across AI fabrics. At the October 2026 Open Compute Project conference, it showcased rack scale-up designs…
• AI Infrastructure InvestmentImportance 34 · Surprise 42
  Arista said it is working with AI accelerator partners including Arm, Microsoft Maia, AMD Helios, Qualcomm and Meta MTIA on rack-scale Ethernet designs, including orthogonal, cable-intensive backplane and heterogeneous…
• Operating Cash Flow TrendsImportance 33 · Surprise 48
  Q3 operating cash flow was approximately $1.2 billion, supported by robust earnings and an intentional inventory build for customer demand. Inventory increased to $3.2 billion from $2.5 billion in Q2, while inventory…
• Capital Return ProgramImportance 32 · Surprise 24
  The $1.5 billion stock repurchase program approved in May 2025 had $817.9 million remaining for repurchases in future quarters. Management said the timing and amount of future buybacks will depend on market and…
• Gross Margin DriversImportance 26 · Surprise 24
  CEO Jayshree Ullal said Arista’s long-term gross margin range, historically 60% to 65%, has tightened to 62% to 64%. She said management sees no change to that range in response to a question about the SU-144 program.…
• Supply Chain ConstraintsImportance 26 · Surprise 24
  Enterprise products generally have shorter component and finished-goods lead times than ultra-advanced hyperscale data-center products. Management attributed the enterprise advantage to less cutting-edge technologies…
• Strategic InitiativesImportance 26 · Surprise 24
  Arista said it has strengthened its go-to-market effort through thought leadership, awareness activities, webinars, and events, with its largest customer event planned for December. Management described sales execution…
• Working Capital ChangesImportance 23 · Surprise 22
  Days sales outstanding declined to 59 days from 68 days in Q2 because of the timing of customer shipments and invoicing. Accounts payable days fell to 48 from 57, reflecting the timing of inventory receipts and…
• Capital ExpendituresImportance 20 · Surprise 24
  Q3 capital expenditures were $100.7 million. Construction of expanded facilities in Santa Clara remained on track, with completion expected in the coming months.
• AI Data Center DemandImportance 20 · Surprise 24
  Management described a very strong demand signal and demand environment, alongside new use cases and products expected in 2027. Large customers are deploying very large AI spines across data centers, with 576-port…
• Competition and Market ShareImportance 20 · Surprise 24
  Arista said enterprise campus and branch networks are increasingly viewed by customers as mission-critical, with reliability and the ability to apply security updates without downtime driving interest in its platform.…
• Revenue Concentration RiskImportance 14 · Surprise 24
  Ullal said Arista’s large-customer concentration is high, with larger customers adopting large AI spine deployments across data centers. She said revenue concentration favors the 7800, while the 7280 is favored by…
• Customer DynamicsImportance 14 · Surprise 24
  Management described a strategic win at an Asian web services company that selected Arista for the front end of future AI deployments, citing reliability, scalability and standards-based 100- and 400-gig platforms. A…

8-K · 2026-11-03

• Guidance and OutlookImportance 81 · Surprise 68
  For the fourth quarter of 2026, Arista expects revenue of $3.9 billion to $4.0 billion. Management forecasts non-GAAP operating margin of 48% to 49% and non-GAAP diluted net income per share of $1.26 to $1.30. The…
• Revenue Performance and MixImportance 74 · Surprise 64
  Third-quarter 2026 revenue was $3,657.6 million, up 58.5% year over year and 20.5% sequentially, and exceeded the $3.3 billion guidance cited in the release. Product revenue was $3,190.0 million, up 66.9% year over…
• Net Income and ProfitabilityImportance 66 · Surprise 46
  Third-quarter GAAP net income increased 82.9% year over year to $1,560.4 million from $853.0 million. GAAP diluted earnings per share rose to $1.22 from $0.67, while non-GAAP diluted EPS was $1.20 compared with $0.77.…
• Operating Cash Flow TrendsImportance 63 · Surprise 48
  Net cash provided by operating activities was $3,977.4 million in the first nine months of 2026, up 27.9% from $3,110.0 million in the comparable 2025 period. Net income increased to $3,796.2 million from $2,555.6…
• Liquidity and Cash PositionImportance 62 · Surprise 38
  At September 30, 2026, cash and cash equivalents were $2,288.1 million, up from $1,963.9 million at December 31, 2025. Marketable securities increased to $12,070.9 million from $8,779.1 million, bringing cash and…
• Operating Income and MarginsImportance 61 · Surprise 38
  Third-quarter GAAP income from operations increased to $1,642.4 million from $978.2 million year over year. GAAP operating margin expanded to 44.9% from 42.4%, while non-GAAP operating margin rose to 49.1% from 48.6%.…
• Operating Expense TrendsImportance 57 · Surprise 38
  Third-quarter operating expenses increased 33.5% year over year to $683.3 million from $512.0 million, below revenue growth of 58.5%. Research and development expense rose 49.4% to $486.9 million from $326.0 million.…
• Working Capital ChangesImportance 57 · Surprise 56
  Inventory increased to $3,209.8 million at September 30, 2026, from $2,247.1 million at December 31, 2025, a 42.8% rise. Accounts receivable increased to $2,327.8 million from $1,886.9 million, up 23.4%. In the first…
• Capital ExpendituresImportance 39 · Surprise 46
  Purchases of property and equipment totaled $184.9 million in the first nine months of 2026, compared with $82.5 million in the same 2025 period, an increase of 124.1%. The purchases were reported within investing…
• AI Network TechnologyImportance 38 · Surprise 42
  Arista announced open Ethernet rack-scale architectures for scale-up and scale-out AI fabrics in partnership with AMD, Arm, Broadcom, d-Matrix, Meta, Microsoft, and Qualcomm. Its liquid-cooled portfolio includes the…
• AI Infrastructure PartnershipImportance 38 · Surprise 42
  Arista said it launched open standards-based rack-scale architectures for scale-up and scale-out AI networks in partnership with AMD, Arm, Broadcom, d-Matrix, Meta, Microsoft, and Qualcomm. The company also described…
• Income Tax Rate ChangesImportance 35 · Surprise 46
  Third-quarter income tax provision was $355.1 million, compared with $224.1 million a year earlier. The effective GAAP tax rate was approximately 18.5% of pretax income, down from approximately 20.8% in the prior-year…
• Gross Margin DriversImportance 26 · Surprise 14
  Third-quarter GAAP gross profit rose to $2,325.7 million from $1,490.2 million year over year. GAAP gross margin declined to 63.6% from 64.6%, a 1.0 percentage-point decrease, while non-GAAP gross margin fell to 64.0%…

News · 2026-11-03

• Guidance and OutlookImportance 80 · Surprise 68
  For Q4 2026, Arista forecast revenue of $3.9 billion to $4.0 billion, above the $3.6 billion analyst consensus. The revenue range implies approximately 6.6% to 9.3% sequential growth from Q3 revenue of $3.66 billion.…
• Revenue Performance and MixImportance 69 · Surprise 64
  Arista reported Q3 2026 revenue of approximately $3.66 billion, up 58.5% year over year and above its approximately $3.3 billion outlook. Revenue exceeded the $3.33 billion analyst consensus by 10.41%, compared with…
• Net Income and ProfitabilityImportance 69 · Surprise 64
  Arista reported Q3 net income of $1.56 billion and GAAP earnings of $1.22 per share. Adjusted earnings were $1.20 per share, up from $0.75 a year earlier, a 60% increase. Adjusted EPS beat the $1.08 consensus estimate…
• Product Launch and TransitionImportance 34 · Surprise 42
  Arista launched open standards-based rack-scale architectures for scale-up and scale-out AI networks. The launch was conducted in partnership with AMD, Arm, Broadcom, d-Matrix, Meta, Microsoft, and Qualcomm.…
• AI Infrastructure PartnershipImportance 34 · Surprise 42
  Arista said it launched open standards-based rack-scale architectures for scale-up and scale-out AI networks. The launch was conducted in partnership with AMD, Arm, Broadcom, d-Matrix, Meta, Microsoft, and Qualcomm.…
• AI Infrastructure DemandImportance 20 · Surprise 24
  Third-party coverage attributed Arista’s Q3 growth to strong demand for networking solutions supporting AI infrastructure. Another report said product revenue was driven in particular by AI fabric demand. The coverage…

News · 2026-10-31

• AI Infrastructure PositioningImportance 10 · Surprise 6
  Arista Networks supplies Ethernet switches and software used in GPU-heavy AI clusters. The article describes these products as part of the infrastructure that supports model training. It presents Arista as a commercial…

News · 2026-10-22

• Guidance and OutlookImportance 75 · Surprise 60
  Arista Networks has raised its fiscal 2026 sales outlook to $12.6 billion. Management is targeting at least $3.5 billion of AI-fabric revenue in 2026. The company is scheduled to report third-quarter results on…
• Product Launch and TransitionImportance 31 · Surprise 42
  Arista is expected to provide details on an October rack-scale Ethernet launch. The company is also progressing toward 1.6T networking platforms planned for production in 2027. Product execution is being monitored…
• AI Infrastructure DemandImportance 20 · Surprise 24
  Arista is reportedly seeing AI networking demand potentially exceed its internal expectations ahead of its third-quarter earnings report. The company has identified AI-fabric revenue as a major growth driver, supported…
• Supply Chain ConstraintsImportance 20 · Surprise 24
  Third-party coverage continues to identify supply chain risk for Arista's networking products. The reported pressure relates to critical hardware components, which could constrain fulfillment of AI infrastructure…

News · 2026-10-21

• AI Network TechnologyImportance 31 · Surprise 42
  Arista Networks introduced its Etherlink SU-144 architecture on October 21, 2026. The architecture targets high-density artificial-intelligence data centers and is positioned to address ongoing AI infrastructure…
• Operating Margin DriversImportance 13 · Surprise 6
  Arista Networks’ latest quarterly GAAP operating margin was reported at 45%. The reported margin exceeded Cisco Systems’ comparable 25% GAAP operating margin by 20 percentage points. The digest did not identify…