Juniper Networks, Inc. (JNPR) Tops Q2 EPS by 2c, Issues Light Q3 Outlook
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Juniper Networks, Inc. (NYSE: JNPR) reported Q2 EPS of $0.40, $0.02 better than the analyst estimate of $0.38. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.22 billion.
“Juniper delivered another solid quarter of revenue growth, with continued diversification across our target verticals. With our focused strategy, we are seeing clear signs of success with customers who are in a build cycle for High-IQ networks and Cloud ecosystems,” said Shaygan Kheradpir, chief executive officer, Juniper Networks. “We are relentlessly executing on our Integrated Operating Plan and successfully implemented several initiatives to drive greater efficiencies across our organization. Throughout, we have been working to ignite our culture of innovation and maintain our unwavering commitment to shareholders to drive significant value through profitable growth.”
“I am pleased to report our sixth consecutive quarter of year-over-year strong earnings expansion,” said Robyn Denholm, chief financial and operations officer, Juniper Networks. “We continue to generate strong operating cash flows and have made good progress toward our operating expense and capital allocation goals. We have done so by being very mindful of how we allocate resources to ensure we continue to invest in R&D that will drive Juniper’s growth well into the future.”
Juniper Networks sees Q3 2014 EPS of $0.35 - $0.40, versus the consensus of $0.44. Juniper also sees Q3 2014 revenue of $1.15 - $1.20 billion, versus the consensus of $1.26 billion.
Juniper Networks also announced it has entered into a definitive agreement to sell its Junos Pulse product portfolio to Siris Capital for approximately $250 million. Siris is a leading private equity firm focused on making control investments in data, telecommunications, technology and technology-enabled business service companies. Juniper and Siris have agreed to continued support of customers and partners through the transition. Juniper’s sale of Pulse is consistent with the Company’s overall strategy outlined in its Integrated Operating Plan (IOP) and further aligns the Company’s security products to where its customers and the market is heading with High-IQ networks and building the next-generation of clouds.
For earnings history and earnings-related data on Juniper Networks, Inc. (JNPR) click here.
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