Juniper Networks, which is being bought by Hewlett Packard Enterprise, beat Wall Street estimates for third-quarter revenue and profit on Thursday, aided by demand for its networking equipment. <\/p>\n
Sunnyvale, California-based Juniper is benefiting from strong demand from cloud computing firms as they invest heavily to bolster AI infrastructure. <\/p>\n
For the third quarter, the company reported revenue of $1.33 billion, beating analysts’ expectations of $1.26 billion, according to data compiled by LSEG data. <\/p>\n
“We saw particularly robust orders from our cloud customers during Q3 in support of front-end and back-end AI networking initiatives,” Chief Executive Rami Rahim said in a statement. <\/p>\n
On an adjusted basis, the company earned 48 cents per share in the quarter ended Sept. 30, compared with estimates of 44 cents per share. <\/p>\n
In January, Hewlett Packard Enterprise said it would acquire Juniper for about $14 billion, and last month the AI server maker announced a $1.35 billion mandatory convertible preferred stock offering to fund its acquisition. <\/p>\n
Juniper said on Thursday it would not provide annual forecast owing to the takeover, which is expected to close by late 2024 or early 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"
Juniper Networks, which is being bought by Hewlett Packard Enterprise, beat Wall Street estimates for third-quarter revenue and profit on Thursday, aided by demand for its networking equipment. Sunnyvale, California-based Juniper is benefiting from strong demand from cloud computing firms as they invest heavily to bolster AI infrastructure. For the third quarter, the company reported revenue of $1.33 billion, beating analysts’ expectations of $1.26 billion, according to data compiled by LSEG data. “We saw particularly robust orders from our cloud customers during Q3 in support of front-end and back-end AI networking initiatives,” Chief Executive Rami Rahim said in a statement. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-872939","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/872939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=872939"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/872939\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=872939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=872939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=872939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}