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Juniper Networks
🇺🇸 NYSE:JNPR
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Sep 30, 2021

Juniper Networks Q3 2021 Earnings Report

Reported fifth consecutive quarter of year-over-year revenue growth and a second consecutive quarter of exceptional order growth.

Key Takeaways

Juniper Networks reported preliminary financial results for Q3 2021, with net revenues of $1,188.8 million, a 4% increase year-over-year. The company's CEO is confident in their ability to grow their business in the December quarter and the upcoming year.

Net revenues were $1,188.8 million, an increase of 4% year-over-year.

GAAP operating margin was 10.1%, a decrease from 11.0% in the third quarter of 2020.

Non-GAAP operating margin was 16.6%, a decrease from 17.1% in the third quarter of 2020.

GAAP net income was $88.9 million, a decrease of 39% year-over-year.

Total Revenue
$1.19B
Previous year: $1.14B
+4.5%
EPS
$0.46
Previous year: $0.43
+7.0%
Gross Profit
$692M
Previous year: $658M
+5.2%
Cash and Equivalents
$1.01B
Previous year: $1.34B
-24.7%
Total Assets
$8.72B
Previous year: $8.69B
+0.3%

Juniper Networks

Juniper Networks

Juniper Networks Revenue by Geographic Location

Forward Guidance

Juniper Networks provided its outlook for the quarter ending December 31, 2021.

Positive Outlook

  • Revenue will be approximately $1,265 million, plus or minus $50 million.
  • Non-GAAP operating margin will be approximately 17.6% at the mid-point of revenue guidance.
  • Non-GAAP other income and expense (OI&E) will be near Q3'21 levels.
  • Non-GAAP tax rate will be approximately 19.5%.
  • Non-GAAP net income per share will be approximately $0.53, plus or minus $0.05. This assumes a share count of approximately 330 million.

Challenges Ahead

  • Non-GAAP gross margin will be approximately 58.0-60.0%. The sequential decline is due to higher costs related to supply constraints and product mix.
  • Non-GAAP operating expenses will be approximately $525 million, plus or minus $5 million.
  • There is a worldwide shortage of semiconductors impacting many industries, caused in part by the COVID-19 pandemic.
  • Extended lead times and elevated costs will likely persist for at least the next few quarters.
  • The outlook assumes that the exchange rate of the U.S. dollar to other currencies will remain relatively stable at current levels.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Juniper Networks