Arista Networks (ANET)
Arista Networks (ANET) builds the high-speed Ethernet switches that form the back-end fabric of AI data centers. In ETFpedia it represents the Optical Networking & Photonics concept, because every switch port it ships drives demand for optical interconnects, and it has raised its 2026 AI-networking revenue target to $3.5 billion.
| Ticker | ANET |
|---|---|
| Exchange | NYSE |
| Sector | Technology · Data-Center Networking |
| Country | United States |
| Held by ETF | KODEX US AI Optical Communication Network ETF (0173Y0) |
| Last updated | 2026-06-04 |
Next event:Next earnings · Q2 2026, estimated · Date is analyst/calendar-estimated; confirm on Arista IR. Last report: Q1 2026 on 2026-05-05. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-05)
Arista posted revenue of $2.709 billion, up 35% year over year, with non-GAAP EPS of $0.87 and non-GAAP gross margin of 62.4%, and raised its full-year outlook and AI-networking target.
| Revenue | $2.709B+35%YoY |
|---|---|
| Non-GAAP EPS | $0.87 |
| GAAP EPS | $0.80 |
| Non-GAAP gross margin | 62.4% |
| Non-GAAP operating margin | 47.8% |
Revenue by segment
| Product | $2,311M · ~85%of revenue |
|---|---|
| Services | $398M · ~15%of revenue |
Guidance:Q2 2026 & full-year 2026 (raised)
| Q2 2026 revenue | ~$2.8B |
|---|---|
| FY2026 revenue | ~$11.5B · ≈ +27.7% |
| FY2026 AI-networking revenue target | $3.5B · more than 2x prior year |
Recent & upcoming events
Q1 results and the Q2 revenue/operating-margin guide are from the company press release; the $11.5B full-year outlook (27.7% growth) and $3.5B AI-networking target come from Q1 2026 earnings-call commentary, not the press-release body.
Figures are as of 2026-06-03 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Arista do?
Arista designs high-performance data-center and AI networking switches and routers, all running its single EOS operating system and CloudVision management software. Its customers are the “cloud titans,” large enterprises, and service providers. The software-driven model is what lets it win against incumbents, and it is now central to wiring AI back-end clusters (Arista, May 5, 2026).
How is AI driving Arista’s business?
AI training clusters need a vast Ethernet fabric to connect accelerators, and Arista’s 800G platforms are built for exactly that. On its Q1 2026 call, it raised its full-year AI-networking target sharply.
We also increased our AI target now to $3.5 billion this year, thereby more than doubling our AI sales annually.
— Jayshree Ullal, CEO, Arista Networks (Q1 2026 earnings call)
What did Arista report most recently?
In Q1 2026 (the quarter ended March 31, 2026), Arista reported revenue of $2.709 billion, up 35% year over year, with non-GAAP EPS of $0.87, non-GAAP gross margin of 62.4%, and non-GAAP operating margin of 47.8% (Arista). Product was about 85% of revenue and services the rest.
What is Arista’s guidance?
Arista guided Q2 2026 revenue to about $2.8 billion and raised its full-year 2026 outlook to roughly $11.5 billion (about 27.7% growth), alongside the $3.5 billion AI-networking target (earnings call).
Why is Arista part of optical networking?
Switches and optics are two sides of the same fabric: each 800G switch port terminates an optical transceiver. As Arista’s port count and speeds climb, it pulls through demand across the Optical Networking & Photonics supply chain, even though Arista itself sells the switch, not the optic.
What are the risks for Arista?
- Cloud concentration. A few cloud titans drive much of revenue; a capex pullback would hit hard.
- Supply availability. Management has flagged component supply as a constraint on the growth guide.
- Competition. Nvidia (InfiniBand and Spectrum-X), Cisco, and white-box vendors all compete for AI fabric.
- Margin mix. A heavier cloud/AI mix can pressure gross margin versus enterprise.
Related securities, concepts & terms
- AI Infrastructureparent
- Optical Networking & Photonicsparent
- Broadcom (AVGO)sibling
- Marvell Technology (MRVL)sibling
Related indices & ETFs
- KODEX US AI Optical Communication Network ETF (0173Y0) · Samsung Asset Management (KODEX)Korea-listed ETF tracking the Akros U.S. AI Optical index, the AI-optical-networking theme.
Frequently asked questions about Arista Networks
What does Arista Networks do?
Arista Networks designs high-performance data-center and AI Ethernet switches and routers built on its single EOS software platform. Its customers are cloud and AI hyperscalers, enterprises, and service providers, with product (hardware and software) making up most of revenue.
When does Arista report its next earnings?
Arista is expected to report Q2 2026 results around August 4, 2026. That date is analyst/calendar-estimated, so confirm it on Arista's investor-relations site. It last reported Q1 2026 on May 5, 2026.
What was Arista's latest quarterly revenue?
Arista reported revenue of $2.709 billion in Q1 2026 (the quarter ended March 31, 2026), up about 35% year over year, with non-GAAP EPS of $0.87, non-GAAP gross margin of 62.4%, and non-GAAP operating margin of 47.8%. Product was about 85% of revenue and services about 15%.
What is Arista's AI-networking revenue target?
On its Q1 2026 call, Arista raised its 2026 AI-networking revenue target to $3.5 billion, which CEO Jayshree Ullal said would more than double its AI sales for the year. AI networking is the back-end Ethernet fabric Arista sells into hyperscaler GPU clusters.
What is Arista's full-year 2026 guidance?
Arista raised its full-year 2026 outlook to about $11.5 billion in revenue, which the CFO framed as 27.7% growth, and guided Q2 2026 revenue to roughly $2.8 billion with non-GAAP operating margin of 46–47%.
Why is Arista an AI optical networking play?
Arista builds the 400G and 800G Ethernet switching fabric that wires AI clusters together; its 7800R4 platform supports up to 576 ports of 800GbE. Every switch port it ships terminates an optical transceiver, so its port and bandwidth growth pulls through demand across the optical-networking supply chain.
Sources & references
- Arista Networks reports first quarter 2026 financial results · Arista Networks, 2026-05-05
- Arista (ANET) Q1 2026 earnings call transcript · The Motley Fool, 2026-05-05
- Arista unveils 800G platforms to power AI data-center interconnects · SDxCentral, 2025-10-29
- Arista Networks · investor relations and events · Arista Networks, 2026-06-02
- NYSE listed company information · ANET · New York Stock Exchange, 2026-06-02