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Sep 30, 2023
Juniper Networks Q3 2023 Earnings Report
Juniper Networks reported preliminary financial results for Q3 2023.
Key Takeaways
Juniper Networks reported Q3 2023 financial results with net revenues of $1,397.8 million, a 1% decrease year-over-year. The company's enterprise business represented more than 50% of total company revenue. Non-GAAP EPS exceeded the high end of the outlook.
Net revenues were $1,397.8 million, a decrease of 1% year-over-year.
GAAP operating margin was 6.3%, a decrease from 10.6% in Q3 2022.
Non-GAAP operating margin was 17.5%, an increase from 17.2% in Q3 2022.
GAAP net income was $76.1 million, a decrease of 37% 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
For the fourth quarter of 2023, Juniper Networks expects revenue to be approximately $1,400 million, plus or minus $50 million, and non-GAAP net income per share to be approximately $0.63, plus or minus $0.05.
Positive Outlook
- Sequential growth in bookings is expected.
- The rate of year-over-year decline is expected to further moderate.
- Healthy Enterprise momentum is expected to continue.
- Enterprise orders are expected to grow both in Q4 and on a full-year basis.
- Non-GAAP gross margin is expected to modestly increase due to expected lower supply chain costs.
Challenges Ahead
- Demand from Cloud and Service Provider customers is expected to remain constrained.
- Cloud and Service Provider customers are expected to continue to digest previously placed orders.
- The macro-economic environment is expected to remain challenged.
- Non-GAAP operating expenses are expected to see a sequential decline.
- 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