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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.
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
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