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Jun 30, 2021
Juniper Networks Q2 2021 Earnings Report
Juniper Networks' Q2 2021 financial results were reported, showing revenue growth and improved profitability.
Key Takeaways
Juniper Networks reported better-than-expected results for Q2 2021, with a second consecutive quarter of double-digit product revenue growth and record product orders. The company's experience-first strategy and investments in customer solutions and sales organization are driving growth and profitability.
Net revenues increased by 8% year-over-year to $1,172.3 million.
GAAP operating margin was 7.3%, while non-GAAP operating margin was 15.8%.
GAAP net income was $62.0 million, resulting in diluted income per share of $0.19.
Non-GAAP net income was $141.0 million, resulting in non-GAAP diluted earnings per share of $0.43.
Revenue by Geographic Location
Forward Guidance
Juniper Networks provided its outlook for the three months ending September 30, 2021, expecting revenue to be approximately $1,200 million, plus or minus $50 million, and non-GAAP net income per share to be approximately $0.46, plus or minus $0.05.
Positive Outlook
- Revenue will be approximately $1,200 million, plus or minus $50 million.
- Non-GAAP gross margin will be approximately 59.5%, plus or minus 1.0%.
- Non-GAAP operating expenses will be approximately $520 million, plus or minus $5 million.
- Non-GAAP operating margin will be approximately 16.2% at the mid-point of revenue guidance.
- Non-GAAP net income per share will be approximately $0.46, plus or minus $0.05.
Challenges Ahead
- Non-GAAP gross margin is expected to decline sequentially due to higher costs related to supply constraints and an expected increase in service delivery costs.
- Extended lead times and elevated costs will likely persist for at least the next few quarters due to the ongoing component shortage.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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