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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.
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
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