Arista Networks Q3 beats estimates with fastest revenue growth since its 2014 IPO; raises 2026 outlook again, gives strong 2027 guidance
What happened
Arista Networks reported Q3 2026 revenue of $3.66 billion, up 58.5% year over year — its fastest growth since its 2014 IPO — beating the $3.33 billion consensus. Adjusted EPS was $1.20 versus $1.08 expected, and non-GAAP operating margin reached 49.1%. Management raised its full-year 2026 revenue outlook for the fourth time to just over $13.3 billion (implying ~48% annual growth), guided Q4 revenue of $3.9-4.0 billion (above the ~$3.6 billion consensus) with adjusted EPS of $1.26-1.30 (vs. $1.15 est.), and gave a first 2027 outlook of roughly $18.5 billion in revenue, 38-40% growth. Shares jumped ~6% after hours.
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Who’s affected
- Arista Networks (ANET) directly; positive read-through for AI-networking peers (Broadcom, Marvell, Lumentum, Coherent) and the broader AI-infrastructure complex (Nvidia, AMD, Dell, Supermicro), which has been under pressure from the AI-spend selloff.