Revenue for the quarter ended September 30
Arista Networks released its third-quarter 2026 financial results on November 3. Revenue was $3.66 billion, up 58.5% from the same quarter a year earlier and 20.5% from the preceding quarter.
Those are two different comparisons. The annual figure describes growth over twelve months; the sequential figure compares the latest two quarters. The company said quarterly revenue exceeded its $3.3 billion guidance.
Keep GAAP and adjusted earnings separate
GAAP diluted earnings were $1.22 per share, compared with $0.67 a year earlier. Non-GAAP diluted earnings were $1.20 per share, compared with $0.77 a year earlier. The adjusted figure is below the GAAP figure in this release; it should not be silently substituted for reported earnings.
GAAP operating margin was 44.9%, while non-GAAP operating margin was 49.1%. Arista provides a reconciliation and says prior-period non-GAAP amounts were updated for a change in its treatment of income taxes associated with stock-based awards. Use the comparative figures in the current release when checking the annual change.
What Arista forecasts for the final quarter of 2026
Management expects fourth-quarter revenue of $3.9 billion to $4.0 billion. It also forecasts a non-GAAP operating margin of 48% to 49% and non-GAAP diluted earnings of $1.26 to $1.30 per share.
These are forward-looking company estimates. The earnings guidance is explicitly non-GAAP, so it is not a forecast of GAAP earnings on the same basis. Arista says a forward-looking GAAP reconciliation is unavailable without unreasonable effort because some excluded items are difficult to predict.
Where to check the underlying figures
The official release links the financial tables and explanations of adjustments. Arista directs readers to its investor-relations website for the earnings webcast and says an audio replay will follow the call. A replay's actual availability should be checked there.
