GEC NEWS WIREJuniper Networks reported preliminary financial results for the three months ended June 30, 2017 and provided its outlook for the three months ending September 30, 2017. Net revenues were $1,308.9 million, an increase of 7% year-over-year and sequentially. GAAP operating margin was 19.7%, an increase from 16.7% in the second quarter of 2016, and an increase from 12.8% in the first quarter of 2017. Non-GAAP operating margin was 24.2%, an increase from 22.5% in the second quarter of 2016, and an increase from 20.8% in the first quarter of 2017. GAAP net income was $179.8 million, an increase of 28% year-over-year and 65% sequentially, resulting in diluted earnings per share of $0.47. Non-GAAP net income was $220.5 million, an increase of 15% year-over-year and 24% sequentially, and diluted earnings per share was $0.57.
“We are executing on our strategy to lead the transformation to the cloud, and I am pleased with the continued strength in our cloud solutions. We believe our innovative product portfolio has us well positioned to expand our business opportunities as customers look for high-performance network solutions that deliver scale, performance and automation” said Rami Rahim, CEO, Juniper Networks.
“We delivered solid profitability and continued to generate healthy cash flow from operations,” said Ken Miller, CFO, Juniper Networks. “We remain focused on delivering shareholder value through revenue growth and diversification, earnings expansion and an optimized capital structure.” Total cash, cash equivalents, and investments as of June 30, 2017 were $4,215 million, compared to $3,491 million as of June 30, 2016, and $4,044 million as of March 31, 2017.
