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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.
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.
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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