Juniper reports preliminary Q2 EPS 31c, consensus 44c

Reports preliminary Q2 revenue $1.19B, consensus $1.25B. The company said, “We experienced better than expected demand during the June quarter, with orders growing double-digits sequentially and year-over-year,. We saw particularly robust orders from our cloud customers, many of which have digested prior purchases and are investing to support AI initiatives. We also experienced better than expected enterprise demand due to continued momentum in our Mist-led Campus & Branch business and strong demand for our Enterprise data center offerings. Our Q2 financial results were largely in-line with our expectations at the beginning of the quarter. Our teams continue to execute well and we remain optimistic regarding our long-term financial prospects.” Juniper said the HP Enterprise (HPE) transaction is currently expected to close in late calendar year 2024 or early calendar year 2025. The company also suspended its stock repurchase program in accordance with the terms of the merger agreement with HPE.