Juniper's top-line guidance a little soft; shares -1.8% AH

Juniper (JNPR) expects Q4 revenue of $1.2B-$1.23B and EPS of $0.35-$0.37 vs. a consensus of $1.23B and $0.36.

Q3 results beat estimates on the back of a 12% Y/Y increase in service provider revenue (Q2 growth was also 12%). However, enterprise sales fell 4% Y/Y after rising 8% in Q2. Service provider sales made up 66% of revenue, and enterprise 34%.

A big reason for the enterprise drop: security sales fell 18% Y/Y to $144.3M, thanks to continued share losses to both incumbents Cisco and Check Point, and upstarts such as Palo Alto Networks (currently being sued by Juniper), Fortinet, and F5.

Owing to strong carrier demand for Juniper's edge and core routers, router sales rose 18% to $608.9M. Switch sales rose 1% to $147.6M.

Americas sales (56% of total) rose 18%, likely a sign of strong demand from mainstay customers AT&T/Verizon. EMEA sales -5%, Asia-Pac -8%.

Excluding restructuring charges, opex fell 1% Y/Y. $93M was spent on buybacks.

Q3 results, PR

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