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Dec 31, 2023
Arista Q4 2023 Earnings Report
Arista reported an increase in revenue and net income for the fourth quarter of 2023.
Key Takeaways
Arista Networks reported Q4 2023 revenue of $1.54 billion, a 20.8% increase year-over-year. GAAP net income was $613.6 million, or $1.92 per diluted share, compared to $427.1 million, or $1.35 per diluted share, in Q4 2022. Non-GAAP net income was $664.3 million, or $2.08 per diluted share, compared to $445.1 million, or $1.41 per diluted share, in the fourth quarter of 2022.
Revenue increased by 20.8% compared to Q4 2022, reaching $1.54 billion.
GAAP gross margin was 64.9%, compared to 60.3% in Q4 2022.
GAAP net income was $613.6 million, or $1.92 per diluted share.
Non-GAAP net income was $664.3 million, or $2.08 per diluted share.
Arista
Arista
Arista Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comService Revenue
CapyFin.com Forward Guidance
For the first quarter of 2024, Arista expects revenue between $1.52 billion and $1.56 billion, a non-GAAP gross margin of approximately 62%, and a non-GAAP operating margin of approximately 42%.
Positive Outlook
- Revenue between $1.52 billion to $1.56 billion
- Demand in AI
- Demand in Cloud
- Demand in Enterprise
- Demand in campus
Challenges Ahead
- Excludes stock-based compensation expense
- Excludes amortization of acquisition-related intangible assets
- Excludes other acquisition-related costs
- Exclusions can be uncertain or difficult to predict
- Stock-based compensation expense is impacted by the company’s future hiring and retention needs
Revenue & Expenses
Visualization of income flow from segment revenue to net income