Arista Networks, Inc. · ANET · Next earnings

Arista Networks, Inc. reports Thursday, Feb 11, 2027

ANET reports after market close with consensus EPS at $1.14 and revenue at $3.90B. Last quarter: Arista reports record Q3 growth and raises FY2026 and FY2027 targets

Reports After market close98 days awayDate estimated Technology

What the street expects

Consensus for the coming report
Consensus EPS $1.14 Calendar consensus
Consensus revenue $3.90B Calendar consensus
Report date Feb 11, 2027 Thursday, date estimated
Session After market close 98 days away

Where ANET left off: FY2026 Q3

Full report

Arista reports record Q3 growth and raises FY2026 and FY2027 targets

EPS surprise +11.1% Reported $1.20 vs $1.08
Revenue surprise +9.7% Reported $3.66B vs $3.33B
Stock move +9.9% Event window
Subsequent drift 0.0% Up to 20 sessions

FY2026 revenue outlook increased to $13.3 billion from the prior-quarter target of $12.6 billion. Management also outlined FY2027 revenue of $18.5 billion, implying 38–40% growth, according to the supplied call analysis.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Component shortages and supply assurances could constrain fulfillment of the FY2027 target.
  • Revenue concentration among a few large AI customers increases exposure to changes in their spending or deployment schedules.
  • Higher inventory or delayed deployments could affect cash-flow timing.
  • R&D spending, product mix and timing of scale-up versus scale-out adoption remain execution uncertainties.

Questions analysts left open

  • Whether the sequential increase in R&D spending is sustainable and what run-rate it implies.
  • How deferred-revenue volatility relates to order intake.
  • Whether silicon and memory supply can support the FY2027 revenue target.
  • The mix and timing of scale-up versus scale-out adoption.

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Recent ANET quarters

All ANET earnings
+9.9%FY2026 Q3+3.6%FY2026 Q2-13.6%FY2026 Q1-8.6%FY2025 Q3

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2026 Q3

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.