Published on 26 Apr 2024 on Zacks via Yahoo Finance

Juniper (JNPR) Misses Q1 Earnings and Revenue Estimates

Juniper Networks, Inc. JNPR reported soft first-quarter 2024 results, with both the bottom and top lines missing the respective Zacks Consensus Estimate. The financial results arrived amid merger plans with Hewlett Packard Enterprise. The all-cash transaction for $40.00 per share, valued at approximately $14 billion, is anticipated to be finalized in late 2024 or early 2025, subject to the fulfillment of satisfactory conditions.

Net Income

On a GAAP basis, the net loss in the first quarter was $0.8 million or 0.00 cents per share against income of $85.4 million or 26 cents per share in the prior-year quarter. The 101% year-over-year deterioration was mainly owing to lower revenue generation and increasing operating expenses, partially balanced by a higher gross margin and tax benefit.  Non-GAAP net income was $96.6 million or 29 cents per share compared with respective figures of $156.6 million or 48 cents per share in the prior-year period. The bottom line lagged the Zacks Consensus Estimate by 10 cents.