Juniper Networks Q1 Earnings Beat Street View, Provides Moderate Q2 Outlook

Juniper Networks, Inc (NYSE:JNPR) reported Q1 2023 revenue growth of 17% Y/Y to $1.37 billion, beating the consensus of $1.34 billion.
Adjusted EPS increased to $0.48 from $0.31 a year ago and beat the consensus of $0.43.
The adjusted operating margin was 14.8%, an increase from 11.8% a year ago.
JNPR's cash flow from operating activities was $191.5 million in Q1, compared to $193.1 million a year ago.
Total cash, cash equivalents, and investments were $1.19 billion as of March 31, 2023.
Dividend: Juniper Networks declared a cash dividend of $0.22 per share to be paid on June 22, 2023, to stockholders of record as on June 1, 2023.
Q2 2023 Outlook: JNPR expects revenue of around $1.41 billion, plus or minus $50 million (vs. consensus of $1.40 billion) and adjusted EPS of about $0.54, plus or minus $0.05 (vs. consensus of $0.53).
It expects an adjusted operating margin of ~16.2% at the mid-point of revenue guidance and an adjusted gross margin of ~58.0%, plus or minus 1.0%.
"We delivered better than expected profitability during the March quarter, as non-GAAP gross and operating margin both came in well above the mid-point of our guidance, which enabled us to exceed the high-end of our non-GAAP EPS outlook. We remain focused on delivering improved profitability and expect to expand operating margin by greater than 100 basis points in 2023," said Ken Miller. CFO.
Price Action: JNPR shares closed lower by 3.95% at $29.75 after-hours on Tuesday.