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Juniper revenues up 9% sequentially

SUNNYVALE, Calif. – Juniper Networks, a leader in secure, AI-driven networks, today reported preliminary financial results for the three months ended June 30, 2020 and provided its outlook for the three months ending September 30, 2020.

Second Quarter 2020 Financial Performance

  • Net revenues were $1,086.3 million, a decrease of 1% year-over-year, and an increase of 9% sequentially.
  • GAAP operating margin was 8.3%, an increase from 7.5% in the second quarter of 2019, and an increase from 3.9% in the first quarter of 2020.
  • Non-GAAP operating margin was 14.3%, a decrease from 15.9% in the second quarter of 2019, and an increase from 10.2% in the first quarter of 2020.
  • GAAP net income was $61.2 million, an increase of 32% year-over-year, and an increase of 200% sequentially, resulting in diluted earnings per share of $0.18.
  • Non-GAAP net income was $116.3 million, a decrease of 17% year-over-year, and an increase of 51% sequentially, resulting in non-GAAP diluted earnings per share of $0.35.

Guidance

Our guidance for the quarter ending September 30, 2020 is as follows:

  • Revenue will be approximately $1,125 million, plus or minus $50 million.
  • Non-GAAP gross margin will be approximately 59.5%, plus or minus 1.0%.
  • Non-GAAP operating expenses will be approximately $478 million, plus or minus $5 million.
  • Non-GAAP operating margin will be approximately 17% at the mid-point of revenue guidance.
  • Non-GAAP tax rate will be approximately 19.5%.
  • Non-GAAP net income per share will be approximately $0.43, plus or minus $0.05. This assumes a share count of approximately 334 million.

Juniper Networks

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