Juniper reports better than expected demand during Q3

Juniper Networks reported net revenues of $1,138.2 million, up slightly year-over-year, and an increase of 5% sequentially. GAAP operating margin was 11.0%, a decrease from 12.2% in the third quarter of 2019, and an increase from 8.3% in the second quarter of 2020.  increase of 24% sequentially, resulting in non-GAAP diluted earnings per share of $0.43.

“We experienced better than expected demand during the September quarter, as our teams continued to execute extremely well, despite the various challenges created by the pandemic,” said Juniper’s CEO, Rami Rahim. “I am encouraged by the business momentum we are seeing, particularly in our enterprise and service provider verticals. Given the strength of our current portfolio and the investments we have made in our go-to-market organization, I am confident not only in our Q4 outlook, but our ability to deliver organic growth in 2021.”

“We delivered better than expected Q3 sales and achieved our non-GAAP EPS forecast,” said Juniper’s CFO, Ken Miller. “We are entering Q4 with healthy backlog and making progress against COVID-19 related supply chain challenges. While we will continue to effectively manage costs and remain committed to improving profitability, we are making the needed investments to capitalize on the opportunities ahead and expect to deliver sustained growth and margin expansion over time.”