Tuesday, October 26, 2021

Juniper posts Q3 sales of $1.19 billion, up 4% yoy

Juniper Networks reported preliminary Q3 2021 net revenues of $1,188.8 million, an increase of 4% year-over-year and an increase of 1% sequentially. GAAP operating margin was 10.1%, a decrease from 11.0% in the third quarter of 2020, and an increase from 7.3% in the second quarter of 2021. Non-GAAP net income was $152.0 million, an increase of 5% year-over-year, and an increase of 8% sequentially, resulting in non-GAAP diluted net income per share of $0.46.

“We reported a fifth consecutive quarter of year-over-year revenue growth and a second consecutive quarter of exceptional order growth during the Q3 time period,” said Juniper’s CEO, Rami Rahim. “Our strategy is working and the investments we have made both in our customer solutions and our sales organization are enabling us to capitalize on the strong demand across each of our end markets. Based on the momentum we are seeing, I am confident in our ability to not only grow our business in the December quarter, but also to do so again during the upcoming year.”

Juniper also stated that it continuew to experience component shortages which has resulted in extended lead times and elevated costs of certain products. However, the company believes it has sufficient supplies of semiconductors and other components to meet its financial forecast.