Juniper Q3 Revenues Grow
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Juniper Networks (NYSE:JNPR) reported third quarter fiscal 2011 earnings this week, showing an increase in revenue but a decline in net income. Juniper's results come as the company gears up for the availability a number of critical service provider and enterprise networking products.
For the third quarter, Juniper reported net revenue of $1.1 billion, which is a 9 percent year-over-year increase. Non-GAAP Net Income came in at $149.8 million or $0.28 per share which is a 13 percent year-over-year decline.
Juniper's CFO Robyn Denholm said during the company's earning call that the financial performance was in line with the guidance provided by Juniper during the second quarter. Moving forward, Denholm provided guidance for the fourth quarter of 2011 for revenues to range between $1.160 billion and $1.220 billion.
Juniper's CEO Kevin Johnson noted during the call that the macro environment remains challenging, with many economic indicators becoming more volatile in the recent weeks.
"In the near term, this environment may make certain customers more cautious in their CapEx spending," Johnson said. "However, we believe our broader market opportunity continues to be strong, driven by the two key trends of mobile Internet and cloud computing.