Juniper Networks Q1 2022 Earnings Report
Key Takeaways
Juniper Networks' Q1 2022 revenue increased by 9% year-over-year, with GAAP operating margin increasing from 2.6% in Q1 2021. The company's CEO, Rami Rahim, cited strong business momentum and double-digit order growth.
Net revenues were $1,168.2 million, an increase of 9% year-over-year.
GAAP operating margin was 5.0%, an increase from 2.6% in the first quarter of 2021.
GAAP net income was $55.7 million, an increase from the loss reported in the first quarter of 2021.
Non-GAAP net income per share was $0.31.
Juniper Networks
Juniper Networks
Juniper Networks Revenue by Segment
Juniper Networks Revenue by Geographic Location
Forward Guidance
Juniper Networks provided guidance for the quarter ending June 30, 2022, expecting revenue of approximately $1,255 million, plus or minus $50 million, and non-GAAP net income per share of approximately $0.45, plus or minus $0.05.
Positive Outlook
- Revenue will be approximately $1,255 million, plus or minus $50 million.
- Non-GAAP gross margin will be approximately 58.0%, plus or minus 1.0%.
- Non-GAAP operating expenses will be approximately $535 million, plus or minus $5 million.
- Non-GAAP operating margin will be approximately 15.4% at the mid-point of revenue guidance.
- Non-GAAP net income per share will be approximately $0.45, plus or minus $0.05.
Challenges Ahead
- There is a worldwide shortage of semiconductors and other components impacting many industries, caused in part by the COVID-19 pandemic.
- Experiencing ongoing supply chain challenges, which have resulted in extended lead times, as well as elevated logistics and component costs.
- Extended lead times and elevated costs will likely persist for at least the remainder of the year.
- The outlook assumes that the exchange rate of the U.S. dollar to other currencies will remain relatively stable at current levels.
- Non-GAAP tax rate will be approximately 20.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income