Juniper (JNPR) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - Juniper Networks reported revenue of $1.33 billion for Q3 2024, a decrease of 4.8% year-over-year, with EPS at $0.48 compared to $0.60 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $1.27 billion by 5.01%, and the EPS also surpassed the consensus estimate of $0.44 by 9.09% [1] Revenue Breakdown - Hardware Maintenance and Professional Services revenue was $403.90 million, slightly below the average estimate of $412.56 million, reflecting a year-over-year decline of 1.3% [3] - Campus and Branch revenue was $319.30 million, below the estimated $322.25 million, marking a significant year-over-year decrease of 16.5% [3] - Data Center revenue reached $244.60 million, exceeding the average estimate of $171.99 million, showing a substantial year-over-year increase of 43.9% [3] - Wide Area Networking revenue was $363.20 million, below the estimated $400.09 million, with a year-over-year decline of 16.7% [3] - Service revenue was $514.30 million, surpassing the average estimate of $488.90 million, with a year-over-year increase of 2.9% [3] - Product revenue was $816.70 million, slightly below the estimated $827.18 million, reflecting a year-over-year decline of 9.1% [3] - Service Provider revenue was $389 million, slightly above the average estimate of $383.78 million, with a year-over-year decline of 7.1% [3] - Enterprise revenue was $592.40 million, below the estimated $631.19 million, marking a year-over-year decrease of 16.5% [3] - Cloud revenue was $349.60 million, exceeding the average estimate of $265.62 million, with a year-over-year increase of 29.7% [3] Gross Margin Insights - Non-GAAP Gross margin for Service was $372.40 million, above the average estimate of $346.54 million [3] - Non-GAAP Gross margin for Product was $418.70 million, slightly below the average estimate of $437.02 million [3] Stock Performance - Juniper's shares returned +0.1% over the past month, compared to a +1% change in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [4]