Juniper Networks, still independent for the moment before HPE acquires it, presented its quarterly results. Despite not living up to analysts’ expectations, the company is positive.
In its figures for the second quarter of 2024, Juniper Networks posted revenue of $1.189 billion. That put the figure 17 percent lower than the same period in 2023. This to the disappointment of analysts who had counted on $1.25 billion in revenue. However, Juniper’s revenue was 4 percent higher than in the first quarter of 2024.
In addition, Juniper Networks’ profits also increased in the second quarter of this year. For this, $34.1 million was credited to the books, up from $24.4 million in last year’s second quarter. No statements were made about expectations for the current third quarter of this year.
CEO Rahim remains positive
Despite analysts’ disappointments, CEO Rami Rahim remains positive about developments at Juniper Networks. For example, he sees robust orders from cloud customers, especially as previous purchases have been delayed. Now they do want to invest in network solutions, mainly to support AI initiatives.
Furthermore, Rahim sees that in the large enterprise segment, there is growing interest in the Mist-based Campus & Branch business and in the large enterprise data center portfolio.
Acquisition by HPE
The presentation of the quarterly figures is one of the last before Juniper Networks is expected to become a permanent part of HPE this fall. This tech giant bought Juniper in January of this year for $14 billion.
HPE is particularly interested in Juniper Networks’ Mist solutions, which will complement its own HPE Aruba Networking portfolio.
As it happens, the acquisition is not yet a done deal. In June , the British regulator CMA announced a competition investigation. The result of this investigation will not be known until Aug. 13 and could possibly lead to a delay, adjustment or even cancellation of this acquisition.