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Jun 30, 2023
Arista Q2 2023 Earnings Report
Arista achieved record growth in revenue and profitability.
Key Takeaways
Arista Networks reported record revenue of $1.459 billion for Q2 2023, representing a 38.7% increase year-over-year. The company's GAAP net income was $491.9 million, or $1.55 per diluted share, compared to $299.1 million, or $0.94 per diluted share, in the second quarter of 2022.
Revenue reached $1.459 billion, a 38.7% increase year-over-year.
GAAP gross margin was 60.6%.
GAAP net income was $491.9 million, or $1.55 per diluted share.
Arista surpassed 75 million cumulative cloud network ports shipped in the first half of 2023.
Arista
Arista
Arista Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService Revenue
CapyFin.com Forward Guidance
For the third quarter of 2023, Arista expects revenue between $1.450 billion and $1.500 billion, a non-GAAP gross margin of approximately 62%, and a non-GAAP operating margin of approximately 41%.
Positive Outlook
- Revenue between $1.450 billion to $1.500 billion
- Non-GAAP gross margin of approximately 62%
- Non-GAAP operating margin of approximately 41%
- Executing well
- Gradual incremental improvements to 2023 outlook
Challenges Ahead
- Excludes stock-based compensation expense
- Excludes amortization of acquisition-related intangible assets
- Excludes potential non-recurring charges or benefits
- Return to shorter lead times
- Reduced visibility
Revenue & Expenses
Visualization of income flow from segment revenue to net income