Arista Networks delivered robust financial results for Q3 2024, with revenue reaching $1.81 billion, up 20% year-over-year. Net income surged to $747.9 million, or $2.33 per diluted share. Product revenue grew 18.5% to $1.52 billion, while service revenue increased 28.2% to $287.1 million.The company's gross margin improved to 64.2% from 62.4% in Q3 2023, driven by reduced excess inventory charges. Operating expenses rose 10.8% to $376.5 million, reflecting continued investments in R&D and sales expansion. Arista ended the quarter with a strong balance sheet, holding $7.4 billion in cash and investments.Arista's board approved a 4-for-1 stock split, effective December 3, 2024, to make shares more accessible to a broader investor base. The company anticipates continued growth, particularly in cloud and AI-driven networking, while noting potential volatility due to macroeconomic uncertainties and evolving customer demand patterns in the AI market.

Arista Networks delivered robust financial results for Q3 2024, with revenue reaching $1.81 billion, up 20% year-over-year. Net income surged to $747.9 million, or $2.33 per diluted share. Product revenue grew 18.5% to $1.52 billion, while service revenue increased 28.2% to $287.1 million.The company's gross margin improved to 64.2% from 62.4% in Q3 2023, driven by reduced excess inventory charges. Operating expenses rose 10.8% to $376.5 million, reflecting continued investments in R&D and sales expansion. Arista ended the quarter with a strong balance sheet, holding $7.4 billion in cash and investments.Arista's board approved a 4-for-1 stock split, effective December 3, 2024, to make shares more accessible to a broader investor base. The company anticipates continued growth, particularly in cloud and AI-driven networking, while noting potential volatility due to macroeconomic uncertainties and evolving customer demand patterns in the AI market.