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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.
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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