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Jun 30, 2020
Juniper Networks Q2 2020 Earnings Report
Reported preliminary financial results with revenue and non-GAAP earnings per share exceeding guidance.
Key Takeaways
Juniper Networks reported solid demand in Q2 2020, with revenue at $1,086.3 million and GAAP net income of $61.2 million, resulting in diluted earnings per share of $0.18. The company's technological differentiation and go-to-market execution drove a second consecutive quarter of positive order growth.
Experienced solid demand during the June quarter, driven by technological differentiation and go-to-market execution.
Delivered better than expected results during the June quarter, with both revenue and non-GAAP earnings per share exceeding the mid-point of guidance.
Entering Q3 with healthy backlog and are optimistic regarding our ability to navigate COVID-19 related supply chain challenges.
The Board of Directors has declared a cash dividend of $0.20 per share to be paid on September 22, 2020.
Revenue by Geographic Location
Forward Guidance
At the mid-point of our Q3 guidance we expect to see sequential revenue and earnings growth. We expect third quarter non-GAAP operating expense to be essentially flat compared to Q2.
Positive Outlook
- Expect to see sequential revenue and earnings growth.
- Confidence in our forecast is driven by strong backlog
- Strength within our Service Provider and Cloud verticals.
- Expect to see sequential volume-driven improvements in non-GAAP gross margin
- Expect a more favorable customer mix during the September quarter.
Challenges Ahead
- Believe these factors should help offset continued uncertainty in parts of the Enterprise market.
- Expect logistics and other supply chain-related costs to remain elevated, consistent with Q2 levels, due to the effects of the ongoing pandemic.
- Non-GAAP gross margin will be approximately 59.5%, plus or minus 1.0%.
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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