Home Networking company Juniper Networks Exceeds Sales Forecasts with Fourth Quarter Results

Juniper Networks Exceeds Sales Forecasts with Fourth Quarter Results

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Computer network infrastructure company Juniper Networks Inc. beat expectations as it delivered its fourth quarter results today, pushing its stock higher in after-hours trading.

The company reported earnings before certain costs such as stock-based compensation of 56 cents per share, well up from a year ago when it made a profit of one cent per share. Juniper’s net profit for the quarter was $132.9 million, while its revenue was $1.3 billion, up 6% from a year ago.

Wall Street had forecast earnings of just 53 cents per share on sales of $1.27 billion.

Juniper Chief Executive Rami Rahim (pictured) said the company saw better-than-expected demand in the December quarter, driving strong growth across all verticals, customer solutions and geographies.

“Our commitment to providing products that simplify operations and provide a superior user experience, what we call experience-driven networking, resonates with our customers and enables us to capitalize on several important markets and growth,” Rahim said. “We believe this focus, along with the investments we have made in our go-to-market organization, will allow us to accelerate our growth in 2022.”

The company also announced its full fiscal 2021 results, saying it made annual profit of $25.7 million, or 76 cents per share, on annual revenue of $4.74 billion. dollars.

Juniper sells computer networking hardware such as Ethernet routers and switches. It is also a leader in the field of network software and also offers many security tools.

Juniper’s evolution to “experience-driven networking” aims to help enterprise customers simplify the deployment and management of their networks by automating these tasks. Much of this innovation is software-based. Earlier this month, for example, it announced an expanded router portfolio powered by new software that makes it easier to manage these devices.

Looking to the first quarter of its fiscal year 2022, Juniper believes it will get off to a good start, with its forecast calling for earnings of 31 cents per share and revenue of $1.15 billion, just ahead of the Wall Street estimate of $1.13 billion.

Photo: SiliconANGLE

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