Juniper Networks (JNPR) Reports In-Line Q3 EPS

Juniper Networks (NYSE: JNPR) reported Q3 EPS of $0.43, in-line with the analyst estimate of $0.43. Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.12 billion.

“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.”

GUIDANCE:

Juniper Networks sees Q4 2020 EPS of $0.48-$0.58, versus the consensus of $0.53. Juniper Networks sees Q4 2020 revenue of $1.14-1.24 billion, versus the consensus of $1.19 billion.

For earnings history and earnings-related data on Juniper Networks (JNPR) click here.

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