Arista Networks, Inc. (ANET) Earnings Call Transcripts
Arista Networks, Inc.'s Latest Earnings Call - Q2 FY2026
In the second quarter of fiscal 2026, Arista Networks reported revenues of over $3 billion, marking a 37.7% year-over-year increase and surpassing guidance of $2.8 billion. The company achieved a significant milestone with its first $3 billion quarter, driven by strong demand from AI and enterprise customers. Management raised its full-year revenue guidance to $12.6 billion, reflecting a 40% annual growth rate, up from previous estimates, indicating robust momentum heading into the second half of the year.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | $3.0B (beat) |
| Gross Margin | 63.4% (neutral) |
| Operating Income | $1.5B (positive) |
| Diluted EPS | $1.02 (positive) |
| Deferred Revenue | $6.9B (positive) |
| International Revenue | $697.8M (positive) |
Guidance from management
Management raised its fiscal 2026 revenue guidance to $12.6 billion, projecting 40% annual growth. Q3 guidance includes revenues of approximately $3.3 billion and gross margins around 63%.
What management said
Yes. No, if you had to ask me whether our AI number or campus number will go up, I think Chantelle, Todd, Ken and I absolutely believe it will. The question is not whether it will go up. The question is what is that number? And that I would like to reserve that $1.1 billion question to, well, it depends on how we ship. If we ship more front-end AI or we ship more WiFi or wired or Etherlink switches or routing. So I'...
Absolutely, Michael. So listen, I don't want you to believe that suddenly, we waved the magic wand and all our problems have gone away. The industry is going to have a 2-year problem. I don't think we get out of it as an industry until 2028. But Arista is taking individually and specifically steps in the first half of this year that we believe will have results in the back half of this year. Over to you, Todd.
What analysts pressed on
Analysts expressed concerns about the ongoing supply chain challenges, with one questioning the sustainability of improvements. Additionally, there were inquiries regarding the impact of AI complexity on customer decisions between integrated solutions versus white box approaches.
Main topics on the call
- Record Revenue Achievement — Arista achieved its first $3 billion quarter in revenue, a significant milestone compared to $2.9 billion for the entire year in 2021. Management noted, 'We are excited to increase our guidance for the third time this ye...
- Supply Chain Improvements — Management highlighted significant progress in addressing supply chain challenges, stating, 'Arista is making solid progress here in addressing our tight supply chain.' This includes securing multiyear agreements with su...
- AI Fabric Innovations — The company reported that its AI fabrics momentum has exceeded 100 cumulative customers, with innovations like Smart System Upgrade and MRC enhancing performance. 'Our Scale-Across AI innovations deliver programmable and...
- Increased Guidance — Management raised its fiscal 2026 revenue guidance to $12.6 billion, an increase of $2.1 billion from the Analyst Day goal. This reflects strong demand across all product sectors, particularly in AI fabrics and campus so...
Read the full Arista Networks, Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Arista Networks, Inc.
Arista Networks, Inc. (ANET) is a publicly listed company in the Communications Equipment industry, within the Information Technology sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 130 calls on record spanning February 11, 2020 to August 4, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 130 Arista Networks, Inc. earnings call transcripts on record, spanning February 11, 2020 to August 4, 2026. Based on this history, Arista Networks, Inc. reports quarterly. The most recent call on file is dated August 4, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- ANET
- Exchange
- NYSE
- Country
- US
- Sector
- Information Technology
- Industry
- Communications Equipment
- Calls on record
- 130
- First call
- February 11, 2020
- Most recent
- August 4, 2026
- Reporting cadence
- quarterly