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Jun 30, 2022
Juniper Networks Q2 2022 Earnings Report
Juniper Networks' financial performance for Q2 2022 was reported, showing revenue exceeding forecast and double-digit product revenue growth.
Key Takeaways
Juniper Networks reported preliminary Q2 2022 financial results with net revenues of $1,269.6 million, an 8% increase year-over-year. GAAP net income was $113.4 million, resulting in diluted net income per share of $0.35. The company exceeded its revenue forecast and delivered a second consecutive quarter of double-digit year-over-year product revenue growth.
Net revenues were $1,269.6 million, an increase of 8% year-over-year.
GAAP operating margin was 8.5%, an increase from 7.3% in Q2 2021.
GAAP net income was $113.4 million, an increase of 83% year-over-year.
Non-GAAP net income per share was $0.42.
Revenue by Geographic Location
Forward Guidance
For the third quarter, Juniper Networks expects revenue to be approximately $1,350 million, plus or minus $50 million. Non-GAAP gross margin will be approximately 56.5%, plus or minus 1.0%. Non-GAAP operating expenses will be approximately $550 million, plus or minus $5 million. Non-GAAP operating margin will be approximately 15.8% at the mid-point of revenue guidance. Non-GAAP net income per share will be approximately $0.50, plus or minus $0.05.
Positive Outlook
- Solid revenue growth driven by the strength of our backlog
- Strong demand
- Improved supply outlook
- Strategic actions have been taken to improve access to components
- Prioritizing delivering products to our customers as timely as possible
Challenges Ahead
- Higher costs to secure supply
- Negatively impact margins over the next several quarters
- Expect to see a similar software mix in the third quarter as we saw in the second quarter
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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