Arista Networks Inc
For the period ended Dec 31, 2023. Filed Feb 13, 2024.
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FY2023 · Filed Feb 13, 2024
ANET$186.17+9.0%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
(In thousands, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue: | |||
| Product | $5,029,493 | $3,716,079 | $2,377,727 |
| Service | 830,675 | 665,231 | 570,310 |
| Total revenue | 5,860,168 | 4,381,310 | 2,948,037 |
| Cost of revenue: | |||
| Product | 2,061,167 | 1,573,629 | 958,363 |
| Service | 168,720 | 131,985 | 108,895 |
| Total cost of revenue | 2,229,887 | 1,705,614 | 1,067,258 |
| Gross profit | 3,630,281 | 2,675,696 | 1,880,779 |
| Operating expenses: | |||
| Research and development | 854,918 | 728,394 | 586,752 |
| Sales and marketing | 399,034 | 326,955 | 286,171 |
| General and administrative | 119,080 | 93,241 | 83,117 |
| Total operating expenses | 1,373,032 | 1,148,590 | 956,040 |
| Income from operations | 2,257,249 | 1,527,106 | 924,739 |
| Other income, net | 164,777 | 54,690 | 6,140 |
| Income before income taxes | 2,422,026 | 1,581,796 | 930,879 |
| Provision for income taxes | 334,705 | 229,350 | 90,025 |
| Net income | $2,087,321 | $1,352,446 | $840,854 |
| Earnings per share: | |||
| Basic | $6.75 | $4.41 | $2.74 |
| Diluted | $6.58 | $4.27 | $2.63 |
| Weighted-average common shares outstanding: | |||
| Basic | 309,354 | 306,473 | 306,512 |
| Diluted | 317,135 | 316,459 | 319,238 |
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