NYSE$ANET
Arista Networks Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Arista's Q2 2024 financial results demonstrated a powerful combination of growth, profitability, and best-of-breed platforms.
Arista Networks reported a strong second quarter in 2024, with revenue reaching $1.690 billion, a 15.9% increase from the second quarter of 2023. The company's GAAP net income was $665.4 million, or $2.08 per diluted share, compared to $491.9 million, or $1.55 per diluted share, in the same quarter last year.
- Revenue reached $1.690 billion, up 15.9% year-over-year.
- GAAP gross margin was 64.9%, compared to 60.6% in Q2 2023.
- GAAP net income was $665.4 million, or $2.08 per diluted share.
- Non-GAAP net income was $672.6 million, or $2.10 per diluted share.
Headline financials
Revenue & EPS history
Arista · Revenue · Quarterly
$1.69B
Revenue by segment
Arista · $1.51B total across 2 segments · Q3 2023
- Product Revenue$1.29B+27.4%85.2%
- Service Revenue$224M+33.2%14.8%
Forward guidance
For the third quarter of 2024, Arista Networks expects revenue between $1.72 billion and $1.75 billion, a non-GAAP gross margin of approximately 63% - 64%, and a non-GAAP operating margin of approximately 44%.
Tailwinds
- Revenue between $1.72 billion to $1.75 billion
- Non-GAAP gross margin of approximately 63% - 64%
- Non-GAAP operating margin of approximately 44%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+1.6%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+4.0%
Avg return
30 days after
55%
29 / 53 earnings
Positive
+22.8%
Q2 2023
Best reaction
-24.8%
Q3 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.5% | -19.8% | -9.4% | |
| Q4 2025 | +4.8% | +3.3% | -1.1% | |
| Q3 2025 | +3.4% | -10.6% | -16.3% | |
| Q2 2025 | +17.5% | +16.5% | +20.9% | |
| Q1 2025 | -4.8% | +1.7% | +7.1% | |
| Q4 2024 | -6.4% | -16.5% | -25.1% | |
| Q3 2024 | -5.4% | -6.5% | +2.3% | |
| Q2 2024 | +8.1% | -0.4% | +8.1% | |
| Q1 2024 | +4.6% | +12.6% | +6.4% | |
| Q4 2023 | -6.0% | -7.3% | -0.6% | |
| Q3 2023 | +13.7% | +20.6% | +24.5% | |
| Q2 2023 | +22.8% | +18.9% | +23.8% | |
| Q1 2023 | -15.7% | -13.8% | +3.9% | |
| Q4 2022 | +6.2% | +3.7% | +15.4% | |
| Q3 2022 | +5.1% | +7.9% | +14.7% | |
| Q2 2022 | +0.4% | +8.6% | +2.8% | |
| Q1 2022 | -1.3% | -4.0% | -12.0% | |
| Q4 2021 | +7.5% | +4.1% | +2.7% | |
| Q3 2021 | +20.0% | +29.5% | +18.5% | |
| Q2 2021 | -0.3% | -0.7% | -5.5% | |
| Q1 2021 | +0.7% | +4.4% | +9.3% | |
| Q4 2020 | -0.4% | -8.0% | -8.6% | |
| Q3 2020 | +19.4% | +25.9% | +30.0% | |
| Q2 2020 | -9.7% | -11.4% | -16.8% | |
| Q1 2020 | -1.4% | +3.3% | +8.4% | |
| Q4 2019 | -4.6% | -3.7% | -24.6% | |
| Q3 2019 | -24.8% | -23.3% | -20.8% | |
| Q2 2019 | -10.7% | -13.8% | -17.1% | |
| Q1 2019 | -10.3% | -14.4% | -21.2% | |
| Q4 2018 | +11.6% | +14.0% | +25.5% | |
| Q3 2018 | +11.9% | +6.4% | +3.5% | |
| Q2 2018 | -1.9% | +2.4% | +13.9% | |
| Q1 2018 | -7.7% | -2.3% | -1.6% | |
| Q4 2017 | -17.4% | -17.4% | -2.8% | |
| Q3 2017 | +2.1% | +6.2% | +15.9% | |
| Q2 2017 | +19.8% | +18.5% | +23.7% | |
| Q1 2017 | +3.0% | +3.0% | +8.2% | |
| Q4 2016 | +18.3% | +21.8% | +27.2% | |
| Q3 2016 | +0.6% | +3.8% | +12.4% | |
| Q2 2016 | +0.4% | +3.9% | +13.5% | |
| Q1 2016 | +6.9% | — | — | |
| Q4 2015 | +8.6% | — | — | |
| Q3 2015 | +11.7% | — | — | |
| Q2 2015 | -0.6% | — | — | |
| Q1 2014 | -1.9% | — | — | |
| Q1 2015 | -1.2% | — | — | |
| Q4 2012 | +0.5% | — | — | |
| Q4 2014 | +5.2% | — | — | |
| Q3 2013 | -11.9% | — | — | |
| Q3 2014 | -7.6% | — | — | |
| Q4 2013 | -3.1% | — | — | |
| Q2 2013 | -3.1% | — | — | |
| Q2 2014 | +1.6% | — | — | |
| Q1 2013 | — | — | — |
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