/>
X
Finance

Juniper Networks Q3 earnings match Wall Street prediction

Juniper Networks hits Wall Street share prediction exactly with better-than-expected earnings.
rachel-king-640x465.jpg
Written by Rachel King on

Networking hardware maker Juniper Networks lined up nearly perfectly with Wall Street expectations for its third quarter earnings.

Juniper reported a net income of $83.7 million, or 16 cents a share (statement). Non-GAAP earnings were 28 cents a share on a revenue of $1.106 billion. Wall Street was expecting Juniper to report earnings of 28 cents a share on revenue of $1.09 billion.

Juniper's CFO Robyn Denholm explained in a statement:

The third quarter unfolded as we anticipated, and we achieved the performance objectives we had set for the September quarter. We will continue to carefully manage our expense structure with a focus on investing prudently in the resources that support our growth agenda and maintain our commitment to innovation.

For the outlook, Juniper is predicting a revenue of $1.160 billion to $1.220 billion at the end of Q4 with non-GAAP earnings between 32 cents and 36 cents a share.

By the numbers:

  • Non-GAAP net income was $149.8 million
  • Non-GAAP net income per diluted share decreased 13 percent from Q3 2010, as well as 10 percent down from Q2 2011
  • Total cash, cash equivalents and investments equaled $4,130.3 million, compared to $4,220.5 million as of the second quarter of 2011 and $2,698.5 million as of the third quarter of 2010.
  • Juniper bought back roughly 8.9 million shares during Q3 2011 at an average price of $21.47 per share, equaling approximately $191 million dollars.
  • Juniper's Q3 operating margin decreased to 12.4 percent on a GAAP basis from 15.3 percent in Q2 2011, and from 19.3 percent in Q3 2010

Related:

Editorial standards

Related

How to use your phone to diagnose your car's 'check engine' light
BlueDriver Bluetooth dongle

How to use your phone to diagnose your car's 'check engine' light

Hackers are finding ways around multi-factor authentication. Here's what to watch for
a-man-looking-at-his-smartphone-while-sitting-at-a-computer-in-his-home-office

Hackers are finding ways around multi-factor authentication. Here's what to watch for

Elon Musk drops details about Tesla's humanoid robot
tesla-humanoid

Elon Musk drops details about Tesla's humanoid robot