Stock Analysis on Net
Stock Analysis on Net

Arista Networks Inc. (NYSE:ANET)

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Arista Networks Inc., consolidated income statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Product 1,310,314 1,285,548 1,261,537 1,172,094 1,096,866 1,008,689 885,806 724,718 667,955 604,160 566,467 539,145 518,281 480,242 421,413 410,906 447,498 555,066 513,171 505,415
Service 230,123 223,908 197,387 179,257 178,686 168,112 166,085 152,348 156,504 144,537 140,852 128,417 130,201 125,189 119,157 112,123 105,048 99,349 95,150 90,009
Revenue 1,540,437 1,509,456 1,458,924 1,351,351 1,275,552 1,176,801 1,051,891 877,066 824,459 748,697 707,319 667,562 648,482 605,431 540,570 523,029 552,546 654,415 608,321 595,424
Product (495,826) (522,866) (533,613) (508,862) (471,617) (432,569) (375,634) (293,809) (270,809) (243,342) (225,779) (218,433) (210,436) (199,465) (176,432) (163,629) (175,476) (218,220) (200,534) (198,152)
Service (45,385) (44,171) (41,182) (37,982) (35,329) (34,252) (32,992) (29,412) (30,936) (26,740) (27,362) (23,857) (23,462) (21,004) (20,049) (21,149) (20,767) (18,921) (17,596) (16,702)
Cost of revenue (541,211) (567,037) (574,795) (546,844) (506,946) (466,821) (408,626) (323,221) (301,745) (270,082) (253,141) (242,290) (233,898) (220,469) (196,481) (184,778) (196,243) (237,141) (218,130) (214,854)
Gross profit 999,226 942,419 884,129 804,507 768,606 709,980 643,265 553,845 522,714 478,615 454,178 425,272 414,584 384,962 344,089 338,251 356,303 417,274 390,191 380,570
Research and development (211,481) (212,353) (229,676) (201,408) (190,423) (187,807) (178,158) (172,006) (157,879) (153,093) (143,293) (132,487) (133,847) (128,049) (111,544) (113,154) (110,063) (118,732) (114,295) (119,669)
Sales and marketing (105,538) (102,033) (97,971) (93,492) (85,443) (81,401) (79,372) (80,739) (74,786) (69,740) (70,625) (71,020) (67,671) (53,372) (51,237) (57,086) (54,535) (55,279) (53,040) (51,053)
General and administrative (42,293) (25,338) (26,420) (25,029) (23,821) (23,425) (22,882) (23,113) (24,261) (22,488) (20,895) (15,473) (18,428) (15,146) (14,319) (18,349) (15,716) (14,657) (16,019) (15,506)
Operating expenses (359,312) (339,724) (354,067) (319,929) (299,687) (292,633) (280,412) (275,858) (256,926) (245,321) (234,813) (218,980) (219,946) (196,567) (177,100) (188,589) (180,314) (188,668) (183,354) (186,228)
Income from operations 639,914 602,695 530,062 484,578 468,919 417,347 362,853 277,987 265,788 233,294 219,365 206,292 194,638 188,395 166,989 149,662 175,989 228,606 206,837 194,342
Other income (expense), net 54,477 41,815 56,339 12,146 16,926 6,817 (533) 31,480 1,500 1,346 1,719 1,575 5,542 13,224 8,256 12,157 11,183 19,169 13,811 12,333
Income before income taxes 694,391 644,510 586,401 496,724 485,845 424,164 362,320 309,467 267,288 234,640 221,084 207,867 200,180 201,619 175,245 161,819 187,172 247,775 220,648 206,675
Provision for income taxes (80,755) (99,183) (94,516) (60,251) (58,756) (70,165) (63,221) (37,208) (27,993) (10,335) (24,196) (27,501) (17,222) (33,244) (30,452) (23,388) 73,520 (38,880) (31,397) (5,646)
Net income 613,636 545,327 491,885 436,473 427,089 353,999 299,099 272,259 239,295 224,305 196,888 180,366 182,958 168,375 144,793 138,431 260,692 208,895 189,251 201,029

Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Income statement item Description The company
Revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Arista Networks Inc. revenue increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Income from operations The net result for the period of deducting operating expenses from operating revenues. Arista Networks Inc. income from operations increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Arista Networks Inc. income before income taxes increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.
Net income The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Arista Networks Inc. net income increased from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023.