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Investing.com-- Juniper Networks (NYSE:JNPR) reported fourth-quarter results that exceeded analyst expectations, driven by robust demand across customer segments, particularly in AI networking initiatives.
The networking equipment maker posted adjusted earnings per share of $0.64, surpassing the analyst consensus of $0.57. Revenue for the quarter came in at $1.4 billion, above the $1.38 billion estimate and up 3% YoY.
Juniper’s CEO Rami Rahim highlighted the company’s strong performance, stating, "We saw another quarter of strong demand during the fourth quarter, with total product orders growing double-digits sequentially and more than 40% YoY." He emphasized the breadth of momentum across enterprise, service provider, and cloud verticals.
The cloud vertical saw triple-digit YoY growth, benefiting from customers’ AI networking initiatives. This growth contributed to a 30% YoY increase in backlog.
CFO Ken Miller noted, "We delivered strong Q4 financial results that saw revenue and non-GAAP earnings per share return to growth on a YoY basis." Non-GAAP operating margin improved to 19.2% from 18.3% in the year-ago quarter.
For the full year 2024, Juniper reported net revenues of $5.07 billion, a 9% decrease YoY. Non-GAAP net income was $574.5 million, resulting in diluted earnings per share of $1.72, down 24% YoY.
The company declared a quarterly dividend of $0.22 per share, payable on March 24, 2025.
Juniper’s proposed merger with Hewlett Packard Enterprise (NYSE:HPE), announced on January 9, 2024, faces a legal challenge from the U.S. Department of Justice.
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