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How Arista Networks (ANET) makes money
Arista Networks (ANET) made $3.7B of revenue in the third quarter 2026 (Q3 2026), +58% from a year earlier. Product brought in $3.2B (87%); Service brought in $468M (13%). Of every dollar of revenue, 64¢ was left as gross profit, 45¢ was left as operating profit, 43¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Product | $3.2B | 87.2% | +22% | +67% |
| Service | $468M | 12.8% | +9% | +18% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $3.7B | 100.0% |
| Cost of revenue | $1.3B | 36.4% |
| Gross profit | $2.3B | 63.6% |
| Operating expenses | $683M | 18.7% |
| Operating profit | $1.6B | 44.9% |
| Income tax | $355M | 9.7% |
| Net earnings | $1.6B | 42.7% |
| Operating cash flow | $1.2B | 32.8% |
| Free cash flow | $1.1B | 30.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $3.7B | +58% |
| Q2 2026 | $3.0B | +38% |
| Q1 2026 | $2.7B | +35% |
| Q4 2025 | $2.5B | +29% |
| Q3 2025 | $2.3B | +28% |
| Q2 2025 | $2.2B | +30% |
| Q1 2025 | $2.0B | +28% |
From Arista Networks' 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Arista Networks make money?
Arista Networks (ANET) made $3.7B of revenue in the third quarter 2026 (Q3 2026), +58% from a year earlier. Product brought in $3.2B (87%); Service brought in $468M (13%). Of every dollar of revenue, 64¢ was left as gross profit, 45¢ was left as operating profit, 43¢ was left as net earnings.
What is Arista Networks' biggest business?
Product: $3.2B in the third quarter 2026, 87% of revenue, +67% from a year earlier.
What is Arista Networks' profit margin?
Net earnings were $1.6B, 42.7% of revenue, in the third quarter 2026; the operating margin was 44.9%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.