Juniper Networks, Inc. (NYSE:JNPR) Q3 2023 Earnings Call Transcript October 26, 2023 5:00 PM ET
Company Participants
Jess Lubert - Head of IR
Rami Rahim - CEO
Ken Miller - CFO
Conference Call Participants
Amit Daryanani - Evercore
Michael Ng - Goldman Sachs
Samik Chatterjee - JPMorgan
Alex Henderson - Needham
Simon Leopold - Raymond James
David Vogt - UBS
George Notter - Jefferies
James Fish - Piper Sandler
Karl Ackerman - BNP Paribas
Atif Malik - Citi
Meta Marshall - Morgan Stanley
Tal Liani - Bank of America
Operator
Greetings. Welcome to Juniper Networks’ Q3 2023 Financial Results Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note this conference is being recorded.
I will now turn the conference over to your host, Jess Lubert, Head of Investor Relations at Juniper. You may begin.
Jess Lubert
Thank you, operator. Good afternoon and welcome to our third quarter 2023 conference call. Joining me today are Rami Rahim, Chief Executive Officer, and Ken Miller, Chief Financial Officer.
Today's call contains certain forward-looking statements based on our current expectations. These statements are subject to risks and uncertainties and actual results might differ materially. These risks are discussed in our most recent 10-Q, the press release furnished with our 8-K filed today, the CFO commentary posted on the Investor Relations portion of our website today, and in our other SEC filings. Our forward-looking statements speak only as of today, and Juniper undertakes no obligation to update any forward-looking statements.
Our discussion today will include non-GAAP financial results. Reconciliation information can be found on the Investor Relations section of our website under financial reports. Commentary on why we consider non-GAAP information a useful view of the company's financial results is included in today's press release. Following our prepared remarks, we will take questions. We ask that you please limit yourself to one question, so that as many people as possible who would like to ask a question have a chance.
With that, I will now hand the call over to Rami.
Rami Rahim
Good afternoon everyone, and thank you for joining us on today's call to discuss our Q3 2023 results. We delivered better-than-expected results during the third quarter, with total revenue of $1.5 billion. Better than expected results during the third quarter, with total revenue of $1.398 billion, exceeding the midpoint of our guidance. Profitability was also strong in Q3, as our non-GAAP growth and operating margins both exceeded expectations, resulting in non-GAAP earnings per share of $0.60, which was above the high end of our quarterly guidance range.