Citing ongoing large deployment timing delays by some major customers, Juniper Networks reported Q3 expected net revenues of $1,257.8 million, a decrease of 2% year-over-year and 4% sequentially. GAAP net income was $174.4 million, an increase of 1% year-over-year and a decrease of 3% sequentially, resulting in diluted earnings per share of $0.46. Juniper’s GAAP operating margin was 19.4%, a decrease from 19.5% in the third quarter of 2016, and a decrease from 19.7% in the second quarter of 2017.
“While we are disappointed in our third quarter revenue results which were impacted by timing of switching deployments, we have made significant progress on executing on our cloud strategy,” said Rami Rahim, chief executive officer, Juniper Networks. “We believe our deliberate and intentional strategy of focusing on cloud-oriented architectures and solutions has resulted in a strong footprint and a compelling product pipeline. We are excited about the opportunity we have in front of us.”