Juniper beats quarterly estimates on networking gear demand [Yahoo! Finance Canada]
Hewlett Packard Enterprise Company (HPE)
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Source: Yahoo! Finance Canada
Wall Street estimates for third-quarter revenue and profit on Thursday, aided by demand for its networking equipment. Sunnyvale, California-based Juniper is benefiting from strong demand from cloud computing firms as they invest heavily to bolster AI infrastructure. For the third quarter, the company reported revenue of $1.33 billion, beating analysts' expectations of $1.26 billion, according to data compiled by LSEG data. "We saw particularly robust orders from our cloud customers during Q3 in support of front-end and back-end AI networking initiatives," Chief Executive Rami Rahim said in a statement. On an adjusted basis, the company earned 48 cents per share in the quarter ended Sept. 30, compared with estimates of 44 cents per share. In January, Hewlett Packard Enterprise said it would acquire Juniper for about $14 billion, and last month the AI server maker announced a $1.35 billion mandatory convertible preferred stock offering to fund its acquisition. Juniper said o
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HPE
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- 9/4/24 - Beat
HPE
Sec Filings
- 10/16/24 - Form 4
- 10/9/24 - Form 4
- 10/8/24 - Form 144
- HPE's page on the SEC website