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Juniper Networks Reports Preliminary Q4 and 2019 Financial Results

Financial results News - Published on Thu, 30 Jan 2020

Image Source: Juniper Networks
Juniper Networks has reported preliminary financial results for the three months and fiscal year ended December 31, 2019 and provided its outlook for the three months ending March 31, 2020. Juniper’s CEO Rami Rahim said “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. We believe we are executing well and positioned to sustainably grow the business starting this year.”

Fourth Quarter 2019 Financial Performance
Net revenues were $1,208.1 million, 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.
Non-GAAP operating margin was 20.3%, a decrease from 21.1% in the fourth quarter of 2018, and an increase from 18.3% 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 Financial Performance
Net revenues were $4,445.4 million, a decrease of 4% year-over-year.
GAAP operating margin was 9.9%, a decrease from 12.3% in fiscal year 2018.
Non-GAAP operating margin was 16.6%, a decrease from 18.1% in fiscal year 2018.
GAAP net income was $345.0 million, a decrease of 39% year-over-year, resulting in diluted earnings per share of $0.99, a decrease of 38% year-over-year. The change in GAAP net income was primarily due to a higher tax rate and lower revenue.
Non-GAAP net income was $597.5 million, a decrease of 10% year-over-year, resulting in diluted earnings per share of $1.72, a decrease of 9% year-over-year.
The reconciliation between GAAP and non-GAAP results of operations is provided in a table immediately following the Preliminary Net Revenues by Geographic Region table below.

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Posted By : TelecomGuru on Thu, 30 Jan 2020
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