Juniper Networks reported Q3 revenues of $1,285.3 million, an increase of 3% year-over-year and an increase of 5% sequentially. GAAP operating margin for the third quarter of 2016 was 19.5%, a decrease from 20.7% in the third quarter of 2015, and an increase from 16.7% in the second quarter of 2016. Net income (GAAP) was $172.4 million, a decrease of 13% year-over-year and an increase of 23% sequentially. GAAP diluted earnings per share for the third quarter of 2016 was $0.45.
“I am pleased to report a solid quarter of revenue growth and operating performance. We are executing well on our strategy, with a product and innovation pipeline that has never been stronger,” said Rami Rahim, chief executive officer at Juniper Networks. “One of the most important trends happening around us is the shift to the cloud, which is shaping our strategy and plays to Juniper’s core competencies in building high-performance networks. I am optimistic with where we are headed as a company and our ability to continue to innovate, deliver value to our customers and expand our business opportunities.”
“We delivered solid profitability and continued to generate strong cash flow from operations, with meaningful sequential improvements across key performance metrics: earnings per share, operating margin and operating income,” said Ken Miller, chief financial officer at Juniper Networks. “We believe our strategy, products and ongoing investments will enable us to drive top-line growth and grow shareholder value for the long-term.”
