SANTA CLARA, Calif.--(BUSINESS WIRE)--Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client to cloud networking for large data center, campus and routing environments, today announced financial results for its third quarter ended September 30, 2022.
Third Quarter Financial Highlights
- Revenue of $1.177 billion, an increase of 11.9% compared to the second quarter of 2022, and an increase of 57.2% from the third quarter of 2021.
- GAAP gross margin of 60.3%, compared to GAAP gross margin of 61.2% in the second quarter of 2022 and 63.9% in the third quarter of 2021.
- Non-GAAP gross margin of 61.2%, compared to non-GAAP gross margin of 61.9% in the second quarter of 2022 and 64.9% in the third quarter of 2021.
- GAAP net income of $354.0 million, or $1.13 per diluted share, compared to GAAP net income of $224.3 million, or $0.70 per diluted share in the third quarter of 2021.
- Non-GAAP net income of $391.9 million, or $1.25 per diluted share, compared to non-GAAP net income of $236.9 million, or $0.74 per diluted share in the third quarter of 2021.
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