On Feb 4, juniper Networks exceeded analysts' expectations for its preliminary fourth-quarter revenue and profit, supported by consistent demand for its networking equipment during the artificial intelligence boom.
The California-based company specializes in technology that enhances data traffic efficiency in large-scale networks used by cloud and internet service providers. The surge in investments by cloud computing firms to optimize data center infrastructure has bolstered the need for networking solutions provided by companies like Juniper.
Juniper anticipates reporting fourth-quarter revenue of $1.4 billion, surpassing the average analyst forecast of $1.39 billion. Adjusted earnings are projected at 64 cents per share, up from 61 cents a year ago and higher than the estimated 58 cents.
Additionally, the U.S. Department of Justice filed a lawsuit to halt Hewlett Packard Enterprise's $14 billion acquisition of Juniper, citing concerns over competition. Hewlett Packard Enterprise planned to acquire Juniper in an all-cash transaction to enhance its artificial intelligence offerings.