Juniper Beats Q3 Earnings Expectations Despite Slow Cloud Deployments

Juniper released its third-quarter financial results on Tuesday, outperforming earnings expectations and operating earnings in line with expectations.

However, due to the slowdown in the planned deployment of its cloud customers, the network company has limited its outlook for the fourth quarter. Q4 expectations were still close to analysts' estimates and equities rose after trading hours.

Non-GAAP net income for the third quarter was $ 191 million, down 10% year-on-year. Diluted earnings per share were 54 cents. Net sales reached $ 1.18 billion, down 6% from a year ago.

Wall Street expects earnings per share of 45 cents on revenue of $ 1.18 billion.

"We reported better than expected results for the third quarter as corporate strength and service provider outcomes were more than offset by cloud weakness," said CEO Rami Rahim in a statement. communicated. "While the pace of implementations among multiple cloud customers is impacting our fourth-quarter outlook, we believe it is a temporary headwind and we are confident that we have the same." Good products and the right strategy to develop the business in 2019. "

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