Arista Q3 FY2026: revenue up 58.5% to $3.66 billion, EPS beats
Arista cleared its own revenue guidance by a wide margin and beat the consensus EPS number, with record revenue, net income and EPS in the quarter. Growth of 58.5% is the fastest the company says it has delivered since its IPO. The one soft spot is gross margin, which slipped year over year. Read the scorecard for the size of the beat, then the guidance section for what management expects next quarter.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $1.22 and non-GAAP was $1.20, against a consensus estimate of $1.0979, so the beat was roughly $0.10 on the non-GAAP line. GAAP came in above non-GAAP this quarter because $134.5 million of gains on strategic investments were added back in the non-GAAP reconciliation. A year ago the split ran the other way, at $0.67 GAAP and $0.77 non-GAAP.
Revenue of $3.66 billion was up 58.5% from $2.31 billion a year earlier and 20.5% from $3.04 billion in the prior quarter. Management had guided to roughly $3.3 billion, so the quarter came in about $0.36 billion above the midpoint. Product revenue of $3.19 billion did most of the work, with service contributing $467.6 million.
Management guided fourth-quarter revenue to $3.9–4.0 billion, a midpoint of $3.95 billion, plus non-GAAP operating margin of 48–49% and non-GAAP diluted EPS of $1.26–1.30. The revenue midpoint implies about 8.0% sequential growth, well below the 20.5% just posted. The EPS midpoint of $1.28 would be up about 6.7% from this quarter's non-GAAP $1.20.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-11-04
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