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Sep 30, 2022
Juniper Networks Q3 2022 Earnings Report
Juniper Networks reported preliminary financial results for Q3 2022, showing revenue increase year-over-year and sequentially.
Key Takeaways
Juniper Networks reported a strong Q3 2022 with record revenue results, driven by product sales growth and double-digit year-over-year growth across all customer verticals and solutions. The company's revenue and non-GAAP EPS exceeded the high-end of their guidance range, and they anticipate continued revenue strength in Q4 and sustained growth in 2023.
Net revenues were $1,414.6 million, up 19% year-over-year and 11% sequentially.
GAAP operating margin was 10.6%, increasing from both the previous year and previous quarter.
GAAP net income was $121.5 million, a 37% increase year-over-year.
Non-GAAP net income per share was $0.58.
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
For the fourth quarter, Juniper Networks expects revenue to be approximately $1,475 million, plus or minus $50 million, and non-GAAP net income per share to be approximately $0.64, plus or minus $0.05.
Positive Outlook
- Revenue will be approximately $1,475 million, plus or minus $50 million.
- Non-GAAP gross margin will be approximately 57.0%, plus or minus 1.0%.
- Non-GAAP operating margin will be approximately 18.0% at the mid-point of revenue guidance.
- Non-GAAP other income and expense (OI&E) will be near Q3'22 levels.
- Non-GAAP tax rate will be approximately 19.0%.
Challenges Ahead
- There is a worldwide shortage of semiconductors and other components impacting many industries.
- Experiencing ongoing supply chain challenges, which have resulted in extended lead times, as well as elevated logistics and component costs.
- Extended lead times and elevated costs will persist into 2023.
- Assumes a share count of approximately 330 million shares.
- Non-GAAP operating expenses will be approximately $575 million, plus or minus $5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income