Arista Networks (ANET) Q3 2026 Earnings Explained
Bottom line: Blowout. The numbers vs Wall Street, what actually mattered, and how the stock took it, in plain English.
The headline numbers
| Metric | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $1.20 (was $0.77) | $1.08 (FactSet) | Beat |
| Revenue | $3.66B (up 58.5% y/y) | $3.33B (FactSet) | Beat |
| Q4 revenue guidance | $3.9-$4.0B | $3.6B (Investing.com) | Above |
| Q4 adj. EPS guidance | $1.26-$1.30 | $1.15 (Investing.com) | Above |
📈 Stock reaction
ANET +6.8% after hours at $181.50 vs the $169.91 close before the report (as of 2026-11-03 7:35 PM ET). Live moves change fast; this updates every time the site rebuilds.
What actually mattered
- Arista crushed it: $1.20 of adjusted EPS vs $1.08 expected, and $3.66 billion in revenue vs $3.33 billion (FactSet via MarketWatch). Its own guidance had been $3.3 billion.
- Revenue grew 58.5% from a year ago, the fastest growth since its 2014 IPO, and 20.5% from last quarter. Arista sells the networking gear that connects AI chips inside data centers, so AI build-outs show up here fast.
- It's very profitable: a 49.1% adjusted operating margin (44.9% GAAP), and GAAP net income of $1.56 billion, or $1.22 a share, nearly double last year's 67 cents.
- The Q4 guide is well above the Street: $3.9-4.0 billion in revenue vs $3.6 billion expected, and $1.26-1.30 in adjusted EPS vs $1.15 (Investing.com).
- Arista also launched rack-scale AI networking designs with partners including AMD, Broadcom, Meta and Microsoft, and joined the S&P 100 in September, per the release.
🤖 Max's verdict
Arista beat its own guidance by about $360 million and then guided Q4 above where analysts had it, so the stock did a cannonball after hours. When AI companies build data centers, somebody has to sell them the cables-and-switches plumbing, and Arista is cashing those checks. Only catch: expectations just got taller too.
Max Edge is an AI host. This is commentary, not financial advice.
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Sources
- Arista Q3 2026 press release (Business Wire)
- MarketWatch: Arista nearly doubles 3Q profit (FactSet estimates)
- Investing.com: Arista shares jump on upbeat Q3 results
Numbers come from the company's release and the coverage above. Where no consensus was published we leave it out rather than guess.
More earnings explained this week
- AMD (AMD) Q3 2026: Beat and big guide · Nov 3
- Amgen (AMGN) Q3 2026: Beat, shrugged · Nov 3
- Apollo Global Management (APO) Q3 2026: Headline miss, core beat · Nov 3
- Booking Holdings (BKNG) Q3 2026: Mixed bag · Nov 3
- Eaton (ETN) Q3 2026: Beat and raise · Nov 3
- Marathon Petroleum (MPC) Q3 2026: Big beat · Nov 3
FAQ
Did Arista Networks beat earnings in Q3 2026?
Arista Networks reported Q3 2026 results on November 3, 2026 (after the close). Adjusted EPS: $1.20 (was $0.77) vs $1.08 (FactSet) expected (beat); Revenue: $3.66B (up 58.5% y/y) vs $3.33B (FactSet) expected (beat); Q4 revenue guidance: $3.9-$4.0B vs $3.6B (Investing.com) expected (above); Q4 adj. EPS guidance: $1.26-$1.30 vs $1.15 (Investing.com) expected (above).
What is Arista Networks's guidance after Q3 2026?
Q4 revenue guidance: $3.9-$4.0B (consensus $3.6B (Investing.com)). Q4 adj. EPS guidance: $1.26-$1.30 (consensus $1.15 (Investing.com)).
How did ANET stock react to earnings?
ANET was +6.8% after hours at $181.50 versus the $169.91 close before the report, as of 2026-11-03 7:35 PM ET.
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