ANET · Full Picture

Arista Networks, Inc. — the full picture

Earnings window · 2026-08-05 to 2026-11-09

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Guidance and Outlook · Guidance & outlookPriority 93
    +266.1% revenue; 3 sources (news, press_release, transcript); 12 forward row(s); quote_verified
    Arista expected AI fabrics to be its fastest-growing segment in 2027, doubling to approximately $7 billion.
  2. Revenue Performance and Mix · Revenue growth & mixPriority 87
    +95.0% revenue (realized); 3 sources (news, press_release, transcript); 3 forward row(s); quote_verified
    The consensus revenue estimate for Arista Networks' upcoming quarter is $3.31 billion, indicating 43.51% growth compared to the corresponding quarter of the prior year.
  3. Operating Income and Margins · Operating income & profitabilityPriority 78
    +66.5% operating_income (realized); 2 sources (press_release, transcript); quote_verified
    Q3 2026 GAAP operating income was $1,642.4 million and operating margin was 44.9%, compared with $978.2 million and 42.4% in Q3 2025.
  4. Net Income and Profitability · Operating income & profitabilityPriority 77
    +64.2% net_income (realized); 3 sources (news, press_release, transcript); quote_verified
    Q3 2026 GAAP net income was $1,560.4 million, compared with $853.0 million in Q3 2025.
  5. Supply Chain Commitments · Supply chain & operationsPriority 77
    -6.1% liability; 2 sources (news, transcript); 4 forward row(s); quote_verified
    Arista's multiyear purchase commitments had nearly tripled to $9.7 billion.
  6. Operating Cash Flow Trends · Cash flow generationPriority 69
    +11.4% cash (realized); 3 sources (news, press_release, transcript); quote_verified
    For the nine months ended September 30, 2026, net cash provided by operating activities was $3,977.4 million, compared with $3,110.0 million in 2025.
  7. Operating Expense Trends · Operating expenses (SG&A)Priority 69
    -11.6% operating_income (realized); 3 sources (news, press_release, transcript); quote_verified
    For the nine months ended September 30, 2026, operating expenses totaled $1,734.6 million, compared with $1,381.7 million in 2025.
  8. AI Infrastructure Demand · UnclassifiedPriority 66
    2 forward row(s); quote_verified
    Arista has a target of at least $3.5 billion in AI-fabric revenue for 2026.
  9. AI Infrastructure Positioning · Strategic & business-model shiftsPriority 63
    2 forward row(s); quote_verified
    Arista's guided AI fabrics revenue target for 2026 is at least US$3.5b-$3.6b.
  10. Income Tax Rate Changes · TaxPriority 63
    -11.1% net_income (realized); quote_verified
    For the nine months ended September 30, 2026, Arista's income tax provision was $895.0 million, compared with $556.7 million in 2025.
  11. Liquidity and Cash Position · Liquidity & cash positionPriority 62
    +4.6% cash (realized); 3 sources (news, press_release, transcript); quote_verified
    Insider selling by Arista Networks' CEO and a major shareholder totaled approximately $687.4 million over three months.
  12. Customer Dynamics · Customers & concentrationPriority 58
    2 sources (news, transcript); quote_verified
    Insiders sold 3.7 million Arista Networks, Inc. shares worth approximately $665.8 million over the past three months.

Threads by pillar

Revenue & Demand Priority 91 · 6 threads

Costs & Margins Priority 89 · 5 threads

Capital & Balance Sheet Priority 82 · 6 threads

Strategy & Portfolio Priority 68 · 3 threads

Guidance & Outlook Priority 93 · 1 thread

Macro & Market Conditions Priority 37 · 2 threads

Shareholders & Street Priority 39 · 1 thread

Unclassified Priority 74 · 5 threads

Expected impact by metric

metricforward netforward grossrealized
revenue+266.1%+266.1%+95.0%
liability-6.1%+6.1%+0.4%
margin-0.6%+0.6%+0.8%
assets+0.0%+0.0%—
operating_income——+54.9%
cash——+15.6%
net_income——+53.0%