Juniper (JNPR) Q4 Earnings Beat Estimates, Revenues Lag
Zacks Investment Research | Jan 29, 2019 08:56PM ET
Juniper Networks, Inc. (NYSE:JNPR) reported mixed fourth-quarter 2018 results, wherein the bottom line beat the Zacks Consensus Estimate but the top line missed the same. The computer network equipment maker’s financial performance was mainly driven by sales growth in Enterprise business, decrease in total cost of revenues and income tax benefit.
Net Income
On a GAAP basis, net income increased to $192.2 million or 55 cents per share from net loss of $148.1 million or loss of 40 cents per share in the year-earlier quarter, primarily due to lower operating costs and income tax benefit. For 2018, GAAP net income increased 85.1% year over year to $566.9 million owing to higher income tax provision in 2017.
Non-GAAP net income for the reported quarter was $205.7 million or 59 cents per share compared with $199.4 million or 53 cents per share a year ago. The year-over-year increase was primarily attributable to healthy gross margin, continued cost control and a lower tax rate. The bottom line beat the Zacks Consensus Estimate by 2 cents.
Juniper Networks, Inc. Price, Consensus and EPS Surprise
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