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Mar 31, 2023
Juniper Networks Q1 2023 Earnings Report
Reported strong revenue growth across all customer solutions and geographies, exceeding non-GAAP EPS outlook due to better than expected profitability.
Key Takeaways
Juniper Networks reported preliminary financial results for Q1 2023, with net revenues of $1,371.8 million, a 17% increase year-over-year. The company's GAAP net income was $85.4 million, resulting in diluted net income per share of $0.26. Non-GAAP net income was $156.6 million, resulting in non-GAAP diluted net income per share of $0.48.
Net revenues increased by 17% year-over-year to $1,371.8 million.
GAAP operating margin was 8.4%, up from 5.0% in Q1 2022.
Non-GAAP operating margin was 14.8%, up from 11.8% in Q1 2022.
Non-GAAP net income per share was $0.48, a 54% increase year-over-year.
Juniper Networks
Juniper Networks
Juniper Networks Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.com Forward Guidance
For the second quarter of 2023, Juniper Networks expects revenue of approximately $1,410 million (plus or minus $50 million) and non-GAAP net income per share of approximately $0.54 (plus or minus $0.05).
Positive Outlook
- Strong revenue growth driven by demand.
- Elevated backlog.
- Improved supply outlook.
- Non-GAAP gross margin approximately 58.0%, plus or minus 1.0%.
- Non-GAAP operating margin approximately 16.2% at the mid-point.
Challenges Ahead
- Ongoing supply chain challenges.
- Extended lead times.
- Elevated logistics and component costs.
- Elevated costs and extended lead times will persist through 2023 for a portion of our portfolio.
- Non-GAAP operating expenses will be approximately $590 million, plus or minus $5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income