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ARISTA Arista Networks , Inc. Reports First Quarter 2021 Financial Results 5/4/2021 SANTA CLARA , Calif .-- ( BUSINESS WIRE ) -- Arista Networks , Inc. ( NYSE : ANET ) , an industry leader in cognitive cloud networking solutions for large datacenter and campus environments , today announced financial results for its first quarter ended March 31 , 2021 . " Arista begins the 2021 year with a flying start . Clearly , the focus on our cognitive cloud networking suite is resonating with customers across diverse data sets and applications , " stated Jayshree Ullal , President and CEO of Arista Networks . First Quarter Financial Highlights Revenue of $ 667.6 million , an increase of 2.9 % compared to the fourth quarter of 2020 , and an increase of 27.6 % from the first quarter of 2020 . • GAAP gross margin of 63.7 % , compared to GAAP gross margin of 63.9 % in the fourth quarter of 2020 and 64.7 % in the first quarter of 2020 . • Non - GAAP gross margin of 64.7 % , compared to non - GAAP gross margin of 65.0 % in the fourth quarter of 2020 and 65.6 % in the first quarter of 2020 . • GAAP net income of $ 180.4 million , or $ 2.27 per diluted share , compared to GAAP net income of $ 138.4 million , or $ 1.73 per diluted share in the first quarter of 2020 . • Non - GAAP net income of $ 198.8 million , or $ 2.50 per diluted share , compared to non - GAAP net income of $ 161.7 million , or $ 2.02 per diluted share in the first quarter of 2020 . ● Commenting on the company's financial results , Ita Brennan , Arista's CFO said , " We experienced continued validation of our business diversification initiatives in the first quarter , with healthy demand across all our market and product sectors . " First Quarter Company Highlights 1