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Sep 30, 2022
Arista Q3 2022 Earnings Report
Arista outperformed networking peers with record revenue.
Key Takeaways
Arista Networks reported strong Q3 2022 financial results, with revenue of $1.177 billion, a 57.2% increase year-over-year. The company's GAAP net income was $354.0 million, or $1.13 per diluted share, while non-GAAP net income was $391.9 million, or $1.25 per diluted share.
Revenue increased by 57.2% compared to Q3 2021, reaching $1.177 billion.
GAAP gross margin was 60.3%, while non-GAAP gross margin was 61.2%.
GAAP net income was $354.0 million, or $1.13 per diluted share.
Non-GAAP net income was $391.9 million, or $1.25 per diluted share.
Revenue by Segment
Forward Guidance
For the fourth quarter of 2022, Arista Networks expects revenue between $1.175 billion and $1.200 billion, a non-GAAP gross margin of approximately 60% to 62%, and a non-GAAP operating margin of approximately 40%.
Positive Outlook
- Revenue between $1.175 billion to $1.200 billion
- Non-GAAP gross margin of approximately 60% to 62%
- Non-GAAP operating margin of approximately 40%
- Continued strong revenue growth
- Significant EPS upside
Challenges Ahead
- Excludes stock-based compensation expense
- Excludes amortization of acquisition-related intangible assets
- Excludes certain non-recurring items
- Impact of supply shortages and manufacturing disruptions
- Adverse global economic and geopolitical conditions
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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