JNPR has risen 13% since its 3Q7 results
The stock price of US-based (SPY) hardware tech (QQQ) company Juniper Networks (JNPR) has risen 13% since the company announced its 3Q17 results on October 24, 2017. This rise occurred despite a 6% decline in its stock price after Juniper reported unimpressive 3Q17 results. The stock has since rallied from $24.56 to close at $29.61 on November 29, 2017.
In 3Q17, Juniper reported revenues of ~$1.3 billion, a fall of 2.1% YoY (year-over-year). Its non-GAAP[1. generally accepted accounting principles] EPS (earnings per share) fell 5.2% YoY to $0.55 in 3Q17.
During Juniper’s (JNPR) 3Q17 earnings call, its CEO, Rami Rahim, stated, “While we’re not satisfied with our second half expected performance, we are confident that we have the right strategy and the right products and solutions portfolio.”
What did analysts expect from Juniper in 3Q17?
Analysts expected Juniper Networks to post revenues of ~$1.4 billion with EPS of $0.56 in 3Q17. Juniper’s gross margin was 62% in 3Q17, almost 1% lower than the 62.9% reported in 3Q16. Its operating margin fell to 23.5% in 3Q17 from 24.2% in 2Q17 and 24.4% in 3Q16.
Juniper Networks reported net income of $211.1 million in 3Q17, down from $220.5 million in 2Q17 and $22.0 million in 3Q16.