Arista shares fall 13.6% after Q1 beat as margin guide and supply limits weigh

Arista shares closed down 13.6% on May 6, the day after first-quarter results beat estimates, and traded as much as 17.4% lower during the session. Investors focused on second-quarter guidance that was only slightly above consensus revenue and a non-GAAP operating margin guide below the prior year. CEO Jayshree Ullal said component supply constraints were expected to persist for another year or two.

• Close down 13.6% on May 6, 2026; intraday low down as much as 17.4%
• Q2 revenue guide of about $2.8 billion versus about $2.78 billion expected
• Q2 non-GAAP operating margin guide of 46% to 47%, versus 48.8% a year earlier
• Management said supply constraints would last one to two years