Juniper reports Q1 EPS 29c, consensus 40c

Reports Q1 revenue $1.15B, consensus $1.24B. The company states: “As announced on January 9, 2024, Hewlett Packard Enterprise (HPE) plans to acquire Juniper Networks in an all-cash transaction for $40.00 per share, representing an equity value of approximately $14 billion. The transaction is currently expected to close in late calendar year 2024 or early calendar year 2025, subject to receipt of regulatory approvals, and satisfaction of other customary closing conditions.” Juniper CEO, Rami Rahim, says: “While many of our customers continue to be impacted by macro headwinds and the digestion of previously placed orders, we are starting to see a recovery in demand from our cloud customers and saw another quarter of double-digit order growth in our Mist-led business. I remain optimistic regarding our long-term growth prospects, particularly as customers adopt our AI offerings, both for network operations and data center use cases.”