Arista Networks Inc (0HHR.L) Q3 2024: 0hhr L

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Arista Networks Inc

0HHR.L

$131.96 1.57%

Exchange: LSE | Sector: Technology | Industry: Computer Hardware

Q3 2024

Published: Nov 8, 2024

Earnings Highlights

Revenue of $1.81B up 20% year-over-year
EPS of $0.58 increased by 36.4% from previous year
Gross margin of 64.2%
Net income of 747.94M
""Our commitment to R&D not only drives our product lines forward but positions us to capture emerging demands in the cloud networking space"" - Management

0HHR.L

Arista Networks Inc

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 10, 2025

Executive Summary

In Q3 2024, Arista Networks Inc reported a remarkable year-over-year revenue increase of 19.97%, amounting to $1.81 billion, alongside a quarter-over-quarter growth of 7.13%. The gross profit margin improved to 64.15%, underscoring efficient cost management and robust demand for its cloud networking solutions. Net income surged to $747.94 million, reflecting a 37.15% increase year-over-year, supported by strategic investments in R&D and operational excellence designed to enhance product offerings. Management expressed optimism regarding future growth, driven by increasing market share in a rapidly evolving technology landscape, setting the stage for continued strong performance in upcoming quarters.

Key Performance Indicators

Revenue

Increasing

1.81B

QoQ: 7.13% | YoY: 19.97%

Gross Profit

Increasing

1.16B

64.15% margin

QoQ: 5.88% | YoY: 23.27%

Operating Income

Increasing

785.25M

QoQ: 12.25% | YoY: 30.29%

Net Income

Increasing

747.94M

QoQ: 12.40% | YoY: 37.15%

EPS

Increasing

0.60

QoQ: 13.21% | YoY: 36.36%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue Performance:
- Revenue: $1.81 billion (YoY: +19.97%, QoQ: +7.13%)
- Gross Profit: $1.16 billion (YoY: +23.27%, QoQ: +5.88%)
- Operating Income: $785.25 million (YoY: +30.29%, QoQ: +12.25%)
- Net Income: $747.94 million (YoY: +37.15%, QoQ: +12.40%)
- EPS: $0.60 (YoY: +36.36%, QoQ: +13.21%)

Profitability Metrics:
- Gross Profit Margin: 64.15%
- Operating Margin: 43.36%
- Net Margin: 41.30%

Balance Sheet Health:
- Total Assets: $12.85 billion
- Cash and Cash Equivalents: $3.18 billion
- Total Liabilities: $3.60 billion
- Total Equity: $9.25 billion
- Current Ratio: 4.47

Cash Flow Overview:
- Net Cash from Operating Activities: $1.17 billion
- Free Cash Flow: $1.17 billion

Arista's ability to maintain a high current ratio reflects strong liquidity, which is critical for operating flexibility and investments.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	1.81B	19.97%	7.13%
Gross Profit	1.16B	23.27%	5.88%
Operating Income	785.25M	30.29%	12.25%
Net Income	747.94M	37.15%	12.40%
EPS	0.60	36.36%	13.21%

Key Financial Ratios

Gross Profit Margin

Excellent

64.20%

Gross profit margin is exceptional, indicating strong pricing power and operational efficiency

Operating Profit Margin

Excellent

43.40%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Excellent

41.30%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Fair

5.82%

Return on assets is acceptable but below top-tier companies

Return on Equity

Fair

8.09%

Return on equity is acceptable but below top-tier companies

Current Ratio

Strong

4.47

Current ratio indicates excellent liquidity and financial flexibility

P/E Ratio

High Growth

644.07x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

High Premium

208.41x

Very high premium suggests asset-light business model or lofty expectations

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2025	2,204.80	0.70	+30.4%	View
Q1 2025	2,004.80	0.64	+27.6%	View
Q4 2024	1,930.44	0.62	+25.3%	View
Q3 2024	1,810.94	0.58	+20.0%	View
Q2 2024	1,690.40	0.52	+15.9%	View

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Arista Networks Inc (0HHR.L) Q3 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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