Juniper Networks (JNPR) Reports In-Line Q3 EPS, Slight Miss on Revenues; Q4 EPS/Revenue Mid-Point Guidance Below Consensus

Juniper Networks (NYSE: JNPR) reported Q3 EPS of $0.55, in-line with the analyst estimate of $0.55. Revenue for the quarter came in at $1.26 billion versus the consensus estimate of $1.26 billion.

Outlook

• The Company expects gross margins for the quarter to remain at current levels.
• Juniper remains committed to its long-term financial principles of driving revenue growth, earnings expansion, and an optimized capital structure.
  • Revenues will be approximately $1,230 million, plus or minus $30 million.
  • Non-GAAP operating expenses will be approximately $485 million, plus or minus $5 million.
  • Non-GAAP tax rate will be approximately 26.5%.
  • Non-GAAP net income per share will be approximately $0.52, plus or minus $0.03. This assumes a share count of approximately 380 million.

GUIDANCE:

Juniper Networks sees Q4 2017 EPS of $0.52, versus the consensus of $0.60. Juniper Networks sees Q4 2017 revenue of $1.23 billion, versus the consensus of $1.33 billion.

Highlights

• Net revenues were $1,257.8 million, a decrease of 2% year-over-year and 4% sequentially.
• Non-GAAP operating margin was 23.5%, a decrease from 24.4% in the third quarter of 2016, and a decrease from 24.2% in the second quarter of 2017.
• Non-GAAP net income was $211.1 million, a decrease of 5% year-over-year and 4% sequentially, resulting in diluted earnings per share of $0.55.

For earnings history and earnings-related data on Juniper Networks (JNPR) click here.