Juniper Networks reported preliminary financial results for the three months ended June 30, 2017, as follows:
1. Revenue for the second quarter of 2017 of $1,308.9 million, up 7.2% compared with $1,221.0 million in the first quarter and up 7.2% from $1,221.3 million in the second quarter of 2016.
2. Gross profit for the second quarter of $801.9 million, up 7.4% compared with $746.6 million in the first quarter and up 6.0% from $756.4 million in the second quarter of 2016.
3. R&D expenditure for the second quarter of $240.2 million, down 13.0% compared with $276.2 million in the first quarter and down 3.1% from $247.9 million in the second quarter of 2016.
4. SG&A expenditure for the second quarter of $295.5 million, up 0.4% compared with $294.2 million in the first quarter and down 2.2% from $302.3 million in the second quarter of 2016.
5. Total operating expenditure for the second quarter of $543.7 million, down 8.1% compared with $590.3 million in the first quarter and down 1.6% from $552.6 million in the second quarter of 2016.
6. On a GAAP basis, net income for the second quarter of 2017 of $179.8 million, compared with net income of $108.8 million in the second quarter and net income of $140.0 million in the second quarter of 2016.
On a non-GAAP basis, net income for the second quarter of 2017 of $220.5 million, compared with net income of $178.0 million in the second quarter and net income of $191.6 million in the second quarter of 2016.
7. Cash, cash equivalents and short and long-term investments as of June 30, 2017 of $4,214.6 million, compared with $4,043.7 million as at March 31, 2017,
Additional results and notes
For the second quarter of 2017, Juniper reported product revenue of $917.2 million, including routing sales of $572.5 million, down 0.4% year on year, and service revenue of $391.7 million, up 9.0% year on year.
On a geographic basis, second quarter revenue was split as follows: Americas sales of $800.8 million, up 11.2% year on year; EMEA sales of $288.2 million, down 3.9% year on year; Asia Pacific sales of $219.9 million, up 9.3% year on year.
Net cash flow from operations for the second quarter of 2017 was $299 million, compared to $545 million in the first quarter and $360 million in the second quarter of 2016.
Outlook
For the third quarter ending September 30, 2017, Juniper expects revenue of approximately $1,320 million, plus or minus $30 million, representing a sequential increase of 0.8% at the midpoint.
