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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.
Revenue by Geographic Location
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.
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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