Juniper posts Q4 sales of $1.208 billion, up 2% YoY

Juniper Networks reported preliminary net revenues of $1,208.1 million for 4Q2019, an increase of 2% year-over-year, and an increase of 7% sequentially. GAAP operating margin was 14.8%, a decrease from 16.7% in the fourth quarter of 2018, and an increase from 12.2% in the third quarter of 2019. GAAP net income was $168.4 million, a decrease of 12% year-over-year, and an increase of 70% sequentially, resulting in diluted earnings per share of $0.49. Non-GAAP net income was $198.7 million, a decrease of 3% year-over-year, and an increase of 19% sequentially, resulting in non-GAAP diluted earnings per share of $0.58.

Full Year 2019 net revenues were $4,445.4 million, a decrease of 4% year-over-year.

“We returned to year-over-year growth during the December quarter and saw encouraging trends across various areas of our business, including record Enterprise sales, double digit year-over-year growth in the Cloud, solid momentum with Mist, and another quarter of strength in our services organization,” said Juniper’s CEO, Rami Rahim. “We believe we are executing well and positioned to sustainably grow the business starting this year.”

“We experienced better than expected top and bottom-line results during the December quarter,” said Juniper’s CFO, Ken Miller.