Arista earnings: November 3, 2026
Arista's next results are expected on November 3, 2026. Watch whether AI trials become accepted production with durable margins and cash conversion.
What has Arista guided for 2026?
On August 4, 2026, Arista reported second-quarter revenue of $3,035.7 million, up 37.7% from a year earlier. It then raised its full-year revenue outlook to $12,600.0 million, or 40.0% growth. Within that total, management wants at least $3,500.0 million from AI fabrics and $1,250.0 million from campus networking. The third-quarter revenue guide is approximately $3,300.0 million.
Management also expects non-GAAP gross margin of 62.0%–64.0% and operating margin of 48.0%–49.0%. Gross margin shows what remains after the direct cost of supplying equipment; operating margin also subtracts engineering, sales and administrative costs. Non-GAAP measures exclude selected items, including stock-based compensation, so they can show operating trends but are not the same as standard accounting profit.
| The period guided | Low | High | The date it was given | |
|---|---|---|---|---|
| Revenue | Year to Dec 2026 | 12,600.0 | 12,600.0 | Aug 4, 2026 |
| Revenue growth, Y/Y | Year to Dec 2026 | 40.0% | 40.0% | Aug 4, 2026 |
| Gross Margin (non-GAAP) | Year to Dec 2026 | 62.0% | 64.0% | Aug 4, 2026 |
| Operating Margin (non-GAAP) | Year to Dec 2026 | 48.0% | 49.0% | Aug 4, 2026 |
| AI Fabrics Revenue Goal | Year to Dec 2026 | 3,500.0 | Aug 4, 2026 | |
| Campus Revenue Goal | Year to Dec 2026 | 1,250.0 | Aug 4, 2026 | |
| Revenue | Quarter to Sep 2026 | 3,300.0 | 3,300.0 | Aug 4, 2026 |
| Gross Margin (non-GAAP) | Quarter to Sep 2026 | 63.0% | 63.0% | Aug 4, 2026 |
| Operating Margin (non-GAAP) | Quarter to Sep 2026 | 48.0% | 49.0% | Aug 4, 2026 |
Has Arista kept its past promises?
The company did meet a clear operating promise. Management forecast approximately US$8.2 billion in 2025 revenue, then reported US$9.006 billion. That is evidence of execution against a dated expectation, though exceeding revenue guidance does not automatically prove that every compensation target was demanding.
What has Arista's recent revenue and profit shown?
Gross margin was 62.9% against 65.2% a year earlier. Operating margin nevertheless rose to 45.4% from 44.7%, because operating expenses grew more slowly than sales. Net income reached $1,212.9 million and diluted earnings per share reached $0.95.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,035.7 | 2,709.0 | 2,487.8 | 2,308.3 | 2,204.8 | 2,004.8 | 1,930.4 | 1,810.9 |
| Gross margin | 62.9% | 61.9% | 62.9% | 64.6% | 65.2% | 63.7% | 63.8% | 64.2% |
| Operating income | 1,378.0 | 1,157.8 | 1,032.9 | 978.2 | 986.2 | 858.8 | 799.6 | 785.3 |
| Net income | 1,212.9 | 1,022.9 | 955.8 | 853.0 | 888.8 | 813.8 | 801.0 | 748.0 |
| EPS, diluted | 0.95 | 0.80 | 0.75 | 0.67 | 0.70 | 0.64 | 0.62 | 0.58 |
What should Arista watch in the next release?
The most useful update will identify what happened to the unallocated growth contribution. Investors should watch supply, inventory, customer acceptance and margins together. Rising inventory could support an approaching deployment, or it could show that components and finished equipment are waiting longer than planned. Management’s explanation should distinguish those possibilities.