Juniper (JNPR) expects Q2 revenue of $1.2B-$1.23B and EPS of $0.36-$0.39 vs. a consensus of $1.21B and $0.36. Gross margin is expected to be in a range of 63.5%-64.5% vs. 63.7% a year ago.
Juniper's aggressive buybacks should boost Q2 EPS: The company delivered $900M worth of shares in Q1 for its $1.2B ASR, and has promised to buy back over $2B worth of shares by Q1 2015.
Product revenue +12% Y/Y in Q1 to $876M, service revenue +6% to $294.1M. Routing sales rose 7% to $549.8M (share gains against Cisco), and switch sales jumped 47% to $192M.
Security sales fell 2% to $134.2M, but that's a smaller decline than seen in recent quarters. Service provider revenue rose 10% to $782.7M, and enterprise revenue 12% to $387.4M.