Feb 4 (Reuters) - Juniper Networks ( JNPR ) topped
analysts' estimates for preliminary fourth-quarter revenue and
profit on Tuesday, helped by steady demand for its networking
gear amid the artificial intelligence boom.
The Sunnyvale, California-based company provides technology
that is used to optimize data traffic across large-scale
networks such as those used by cloud and internet service
providers.
Cloud computing firms have been investing billions to
optimize their data center infrastructure, aiding demand for
networking solutions offered by companies such as Juniper.
For the fourth quarter, the company expects to report
revenue of $1.4 billion, compared with the average analyst
estimate of $1.39 billion, according to data compiled by LSEG.
On an adjusted basis, it expects to earn 64 cents per share,
compared with 61 cents a year earlier and estimates of 58 cents.
Last week, the U.S. Department of Justice sued to block
Hewlett Packard Enterprise's ( HPE ) $14 billion deal to acquire
Juniper, arguing that it would stifle competition.
The server maker said last year it would buy Juniper in an
all-cash deal as it looks to spruce up its AI offerings.