Juniper profit spikes despite revenue slide in Q2

Juniper Networks (NYSE: JNPR), a leader in secure, AI-Native Networks, today reported preliminary financial results for the three months ended June 30, 2024.

Net revenues were $1,189.6 million, a decrease of 17% year-over-year, and an increase of 4% sequentially.

GAAP net income was $34.1 million, an increase of 40% year-over-year, resulting in diluted net income per share of $0.10. GAAP net income increased to a profit compared to a loss in the first quarter of 2024.

“We experienced better than expected demand during the June quarter, with orders growing double-digits sequentially and year-over-year,” said Juniper’s CEO, Rami Rahim. “We saw particularly robust orders from our cloud customers, many of which have digested prior purchases and are investing to support AI initiatives. We also experienced better than expected enterprise demand due to continued momentum in our Mist-led Campus & Branch business and strong demand for our Enterprise data center offerings.”

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