Arista Networks, Inc.: Beat — EPS $1.20, Revenue $3.66B
Earnings BeatQ3 2026 · After-market
Did Arista Networks, Inc. (ANET) beat earnings today?
Yes, Arista Networks, Inc. (ANET) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+11.11% surprise
$1.20Actual
Expected: $1.08
vs. year ago +55.8%
Total Revenue+9.84% surprise
$3.66BActual
Expected: $3.33B
vs. year ago +58.5%
Released Nov 03 · 4:05 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $3.66B | $2.31B | +58.5% |
| Revenue detail — reported lines | |||
| └─Product | $3.19B | $1.91B | +66.9% |
| └─Service | $467.60M | $396.60M | +17.9% |
| Net income | $1.56B | $853.00M | +82.9% |
| Basic EPS | $1.24 | $0.68 | +82.4% |
| Diluted EPS | $1.22 | $0.67 | +82.1% |
| Non-GAAP diluted net income per share | $1.20 | $0.77 | +55.8% |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | |
|---|---|---|
| Guidance | Expected | |
| Revenue | $3.9B-$4.0B | $3.6BBeat +9.72% |
| Non-GAAP operating margin | 48-49% | — |
| Non-GAAP diluted net income per share | $1.26-$1.30 | $1.15Beat +11.30% |
Q4 2026 Outlook
- Revenue
- Guidance$3.9B-$4.0BExpected$3.6BBeat +9.72%
- Non-GAAP operating margin
- Guidance48-49%Expected—
- Non-GAAP diluted net income per share
- Guidance$1.26-$1.30Expected$1.15Beat +11.30%
Business Highlights
- ➤Launched open Ethernet rack-scale architectures for scale-up and scale-out AI fabrics.
- ➤Introduced liquid-cooled Etherlink™ SU-144 supporting up to 144 accelerators per rack.
- ➤Designed cross-rack topologies scaling to 1,024 XPUs.
- ➤Outlined scale-across networking using Arista 7800 AI Spine and unified Arista EOS®.
- ➤Highlighted SRv6 multiplane forwarding, deterministic routing, and real-time congestion signaling.
- ➤Targeted lossless AI fabrics across distributed data centers supporting up to one million XPUs.
- ➤Expanded AI-driven software security with domain-specific AI harnesses.
- ➤Collaborated with Anthropic, Google, and OpenAI on proactive vulnerability discovery.
- ➤Added to the S&P 100 in September 2026.
- ➤Recognized on the 2026 Fortune 500 list.
Management Commentary
Jayshree Ullal, Chairperson and CEO
“Arista registered another momentous quarter with the highest year-over-year revenue growth since our IPO and record profitability, surpassing even my high expectations. This strong momentum across customer sectors highlights our increased relevance for the generative and agentic AI era.”
Chantelle Breithaupt, CFO
“This quarter brought a true trifecta for our company, setting new record highs in revenue growth, net income, and EPS. I’m incredibly proud of the Arista team for their hard work in driving such outstanding performance for our shareholders.”