Juniper Networks Inc. (JNPR) shares declined 6.01% in after-hours on Tuesday, July 27, 2021, and closed the daily trading at $25.98 per share. in the regular trading session, JNPR’s stock gained 0.11%. JNPR shares have risen 10.03% over the last 12 months, and they have moved up 1.92% in the past week. Over the past three months, the stock has gained 9.34%, while over the past six months, it has shed 6.14%.
Let’s have a look at its recent news and developments.
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JNPR preliminary second-quarter 2021 financial results announcement
On July 27, 2021, Juniper Networks (JNPR) announced preliminary financial results for the three months ended June 30, 2021, and provided its outlook for the three months ending September 30, 2021.
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JNPR Q2 2021 financial highlights
- JNPR reported net revenue of $1,172.3 million in Q2 2021 compared to $1,086.3 million in Q2 2020.
- The gross profit was $681.9 million in Q2 2021 compared to $619.6 million in Q2 2020.
- Total operating expenses were $596.2 million in Q2 2021 compared to $529.1 million in Q2 2020.
- The company reported a GAAP net income of $62.0 million and diluted income per share of $0.19 in Q2 2021.
- As of June 30, 2021, Company had total cash, cash equivalents, and investments of $1,815.4 million, compared to $2,570.3 million as of June 30, 2020.
The financial outlook for Q3 2021
- For Q3 2021, JNPR is expecting
- Revenue to be in the range of $1,150 million to 1,250 million
- Non-GAAP gross margin of approximately 59.5%, plus or minus 1.0%.
- Non-GAAP operating expenses of approximately $520 million, plus or minus $5 million.
Juniper (JNPR) to Expand CMC Networks’ Service Delivery
On July 14, 2021, CMC Networks became the first Juniper Networks (JNPR) partner to offer a managed AI-driven SD-WAN solution in Africa.
The new dynamic and self-optimizing network will deliver a superior experience to CMC’s customers, allowing them to easily modify their services, add new locations and spin up and down network speeds.
JNPR and NEC upgraded Herotel
On June 8, 2021, Juniper Networks (JNPR) and NEC Corporation announced that they have worked with Herotel, South Africa’s largest fixed wireless service provider, to enable the country’s first commercial network to deploy segment routing as part of a significant network upgrade initiative. Herotel’s operational drivers for this innovation and investment include scalability and reach, agility, cost-effectiveness and the ability to consistently provide a superior user experience that can be tailored to regional requirements.
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Conclusion
The preliminary financial results announcement was the reason behind JNPR loss in the after-hours on Tuesday. It can continue to decline on Wednesday as well.
