Juniper Networks Inc. posted greater earnings within the fiscal second quarter as the corporate noticed constructive order development and regular demand as Covid-19 mitigation measures helped drive wider adoption of cloud and providers.
“We’re coming into Q3 with wholesome backlog and are optimistic concerning our means to navigate Covid-19 associated provide chain challenges and ship improved profitability in the course of the upcoming quarter,” mentioned Chief Monetary Officer Ken Miller.
The networking and cybersecurity supplier mentioned internet revenue was $61.2 million, or 18 cents a share, up from $46.2 million, or 13 cents a share, a 12 months in the past. Adjusted earnings have been 35 cents a share. Analysts surveyed by FactSet anticipated adjusted earnings of 34 cents a share.
Prices rose barely to $466.7 million whereas bills fell 4.6% to $529.1 million.
Internet income fell to $1.09 billion from $1.1 billion a 12 months earlier, pushed primarily by supply-chain disruptions which led to longer lead occasions in the course of the quarter. Analysts have been in search of $1.05 billion in internet income. The corporate’s product gross sales declined 3% from a 12 months in the past whereas service income ticked up 1.4%.
Write to Kimberly Chin at [email protected]