Juniper Reports 1Q13 Earnings
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For Q1 2013, Juniper reported revenue of $1.06 billion, a three percent year-over-year gain. Net income came in at $91 million, or $0.18 per share. Moving forward, the company provided Q2 guidance for revenues to range from $1.07 to $1.10 billion.
While Juniper's service provider business continues to grow, its enterprise networking business has faltered.
"Enterprise is a more challenging market at present, with flat year-on-year performance," CEO Kevin Johnson said, explaining that "a lot of the challenge stems from weak public sector spending, in particular U.S. federal, along with softness in financial services. "
Johnson noted that Juniper does not expect the slowdown in U.S federal government spending to improve in the near term. Government spending does not reflect Juniper enterprise networking performance in the private sector, however. Taking U.S. federal government business out of the customer mix reveals that the rest of the enterprise networking segment actually increased five percent compared to the third quarter of last year, said Juniper CFO Robyn Denholm.