Juniper Networks said it posted Q1 2018 revenue of $1,082.6 million (–11 percent) with operating margin of 5.1 percent vs 12.8 percent in the first quarter of 2017, and 16.4 percent in the fourth quarter of 2017.
The US-based network products company said its quarterly revenue from switching and routing businesses dropped substantially.
Juniper Networks generated revenue of $408 million vs $522 million from switching, $230 million vs $242 million from routing, $73 million vs $66 million from security and $372 million vs $392 million from services.
Juniper Networks said revenue of $268 million vs $332 million was generated from cloud business, $480 million vs $569 million from service providers and $335 million vs $321 million from enterprises.
America was the largest market for Juniper Networks with revenue touching $588 million, while $308 million came from Europe, Africa and Middle East and $187 million from Asia Pacific.
“We hit the high-end of our guidance during the March quarter due to better than expected results from our cloud vertical and another quarter of growth in our enterprise business,” said Rami Rahim, chief executive officer, Juniper Networks.
Juniper Networks will be targeting revenue of approximately $1,175 million with gross margin of 59 percent for the quarter ending June 30, 2018.