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Juniper Networks
🇺🇸 NYSE:JNPR
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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.

Total Revenue
$1.09B
Previous year: $1.1B
-1.5%
EPS
$0.35
Previous year: $0.4
-12.5%
Gross Profit
$620M
Previous year: $637M
-2.7%
Cash and Equivalents
$1.46B
Previous year: $1.38B
+5.7%
Total Assets
$8.74B
Previous year: $8.9B
-1.8%

Juniper Networks

Juniper Networks

Juniper Networks 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%.
  • Non-GAAP operating expenses will be approximately $478 million, plus or minus $5 million.
  • Non-GAAP net income per share will be approximately $0.43, plus or minus $0.05.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Juniper Networks