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Juniper Networks shares are losing ground after the infrastructure hardware provider provided disappointing financial guidance, with weaker-than-expected demand from cloud computing customers.

While Juniper thinks it is a long-term beneficiary of the artificial intelligence software trend, it will take some time for that opportunity to develop. The shift appears to be hurting the company in the short run.

For the second quarter, Juniper (ticker: JNPR) posted revenue of $1.43 billion, up 13% from a year ago and slightly above the Wall Street consensus of $1.42 billion. Adjusted profits of 58 cents a share likewise were three cents above the Street consensus view of 55 cents.

““We delivered better than expected results during the June quarter as our teams continued to execute well and we benefited from improved supply,” CEO Rami Rahim said in a statement. “We were particularly encouraged by the momentum we experienced in our enterprise business, which not only had a record quarter, but also represented both our largest and fastest growing vertical for a third consecutive quarter.”

But management’s financial forecasts proved disappointing. For the third quarter, Juniper sees revenue of $1.385 billion, which would be down about 2% from the year earlier period, falling short of the Street consensus of $1.48 billion. The company projects non-GAAP profits for the quarter of 54 cents, while the consensus call was for 62 cents.

Analysts at Needham, Citi, Raymond James, and others all trimmed their financial forecasts and stock-price targets following the Thursday report.

In prepared remarks, CFO Kenneth Miller said orders were weaker than expected in the second quarter. He said he expects continued weakness in bookings in the third quarter, mostly from cloud customers, but to a lesser extent from telecom service providers. 

“We believe the softness in bookings is largely attributable to customer digestion of previously placed orders and certain projects being pushed to future periods,” Miller said. “We expect the macroeconomic environment to remain challenged, which may continue to impact customer spending. These factors are negatively impacting our revenue expectations.”

The company reduced its forecast of full-year revenue growth to between 5% and 6%, from 9%.

On a conference call with analysts, Rahim said that the focus by cloud providers right now is on building their AI offerings, which he says “might be a bit of a negative” for Juniper for now, although he adds that it will help in the longer term.

“To the extent that AI is a new killer app that’s going to be offered by cloud providers…it’s going to result in an increase of traffic…in areas…where we have a significant footprint,” he says.

Juniper’s disappointing results are weighing on shares of other network equipment providers with significant cloud exposure. Particularly hard hit is Arista Networks (ANET), which gets almost half of its business from Microsoft (MSFT) and Meta Platforms (META).

Arista shares, which had already been under pressure this week from concerns that Microsoft and Meta spent less than expected on capital equipment in the June quarter, are down 6% on Friday. That increased the stock’s four-day loss to 13%. Cisco Systems (CSCO) shares were down 2%.

Write to Eric J. Savitz at eric.savitz@barrons.com

Fri, 28 Jul 2023 03:43:00 -0500 en-US text/html https://www.barrons.com/articles/juniper-stock-earnings-outlook-cut-471d8912

July 13 (Reuters) - Juniper Networks (JNPR.N) forecast third-quarter revenue below market estimates on Thursday on lower spending by cloud computing clients in a turbulent economy, sending the shares of the networking equipment maker down 6% after the bell.

Cloud service providers have been cutting back on orders for infrastructure equipment such as routers and switches in a blow for companies like Juniper Networks due to an overall drop in tech spending.

"We are currently facing some near-term order weakness from our cloud and to a lesser degree our service provider customers," CEO Rami Rahim said.

Juniper, which also provides network management software for companies like AT&T, Seagate and BlackBerry, said it expects revenue of about $1.38 billion, plus or minus $50 million, in the third quarter.

Analysts on average expected revenue of $1.48 billion, according to Refinitiv data.

It forecast adjusted earnings per share of 54 cents, plus or minus 5 cents, which was below expectations of 62 cents.

In the second quarter, the company's net revenue rose to $1.43 billion, beating expectations of $1.42 billion, thanks to higher demand and increased product backlog.

On an adjusted basis, the company earned 58 cents per share, compared with estimates of 55 cents.

Reporting by Zaheer Kachwala; Editing by Pooja Desai and Arun Koyyur

Our Standards: The Thomson Reuters Trust Principles.

Thu, 27 Jul 2023 09:16:00 -0500 en text/html https://www.reuters.com/technology/juniper-networks-sees-weak-third-quarter-revenue-lower-cloud-spending-2023-07-27/

Active Time:

1 hr 10 mins

Total Time:

21 hrs 45 mins

Ingredients

• 1 (5- to 5 1/2-pound) Pekin duck (aka Long Island duck), with giblets and neck

• 2 tablespoons plus 1 teaspoon dark brown sugar, divided

• 2 tablespoons plus 1/2 teaspoon kosher salt, divided

• 1 tablespoon juniper berries, finely crushed

• 1 medium-size yellow onion, quartered

• 1 small carrot, peeled and cut crosswise into 2-inch pieces

• 1 celery stalk, cut crosswise into 2-inch pieces

• 2 teaspoons vegetable oil

• 4 cups cold water, divided

• 4 bunches fresh thyme, divided

• 2 tablespoons kirsch (cherry brandy)

• 3/4 cup frozen pitted tart cherries

• 3 tablespoons cold unsalted butter, cut into 1/2-inch pieces

Directions

1. Using a sharp knife or poultry shears, cut off last 2 joints of duck wings; set aside for broth. Trim and discard excess skin around neck cavity. Remove neck and giblets from cavity; reserve for broth. Reach into cavity; pull away any fat deposits, and discard. Using a metal or wooden skewer, prick skin of duck all over at a 45 degree angle, taking care not to pierce the meat.

2. Stir together 2 tablespoons brown sugar, 2 tablespoons salt, and juniper berries in a small bowl. Sprinkle 1 tablespoon brown sugar mixture inside cavity of duck, and rub remaining mixture over skin. Place duck on a nonreactive wire rack set inside a rimmed baking sheet, and chill, uncovered, 18 to 24 hours.

3. While duck chills, preheat oven to 375°F. Chop reserved wing tips and neck into 2-inch pieces. Place on a rimmed baking sheet with onion, carrot, and celery; add oil and 1/4 teaspoon salt, and toss to coat. Spread in a single layer, and roast in preheated oven, stirring occasionally, until well browned, about 55 minutes. Add 1 cup cold water to baking sheet, stirring and scraping up browned bits from bottom of pan. Transfer mixture to a large saucepan; add reserved heart and gizzards. (Save liver for another use.) Stir in remaining 3 cups cold water and 2 thyme sprigs from 1 bunch. Bring mixture just to a simmer over medium-low. Partially cover, and simmer very gently (do not boil) until reduced to 11/2 cups, 1 hour and 30 minutes to 2 hours, skimming and discarding any foam that accumulates on surface. Pour mixture through a fine wire-mesh strainer over a bowl; discard solids. Chill broth until ready to use.

4. Preheat oven to 250°F with oven racks in lowest and middle positions. Let duck stand at room temperature 30 minutes. Pour water to a depth of 3/4 inch in a large baking pan, and place on lowest oven rack. Transfer duck, breast side up, to a roasting rack set inside a deep, aluminum foil–lined roasting pan; insert 2 bunches of thyme into main cavity. Prick skin all over once again with a skewer to ensure rendering. Place roasting pan on middle oven rack, and roast at 250°F until a meat thermometer inserted in thigh and thickest part of breast registers 145°F, about 1 hour and 30 minutes. (Breast may take longer to register 145°F.) Remove roasting pan; drain and discard cavity juices and drippings in pan. Remove water pan from oven, and increase oven temperature to 450°F.

5. Once oven has preheated to 450°F, return duck in drained roasting pan to middle oven rack. Roast until skin is dark and crisp, about 20 minutes. Meanwhile, skim fat off surface of chilled duck broth, and discard. Transfer skimmed broth to a small saucepan, and bring to a simmer over medium. Stir in remaining 1 teaspoon brown sugar. Cook until reduced to 1/3 cup, about 20 minutes. Stir in remaining 1/4 teaspoon salt; set aside, and keep warm.

6. Remove roasting rack with duck from roasting pan. Drain and discard foil and drippings from pan; wipe pan clean. Return roasting rack with duck to roasting pan; set on a heatproof surface, and let rest 15 minutes. Remove and discard thyme in cavity. Quickly run remaining 2 bunches thyme under water to dampen; stuff damp thyme into cavity.

7. Place kirsch in a heatproof measuring cup with a spout. Heat a small saucepan over medium until warm, about 30 seconds. Remove saucepan from heat, turn off burner, and pour in kirsch. Using a utility lighter, carefully ignite fumes just above surface of kirsch. Slowly and carefully pour flaming liquid over duck. Once flames extinguish, transfer duck to a cutting board. Pour residual kirsch from roasting pan into reduced broth. Add frozen cherries, and cook over medium, stirring occasionally, until cherries are heated through, about 3 minutes. Remove from heat. Swirl in butter until emulsified. Carve duck, and serve with sauce.

Originally appeared: December 2018

Thu, 02 Dec 2021 12:59:00 -0600 en text/html https://www.foodandwine.com/recipes/juniper-rubbed-roast-duck-cherry-jus

Juniper Networks Inc. offered a weak forecast for the third quarter that came in below market estimates, sending its stock down more than 7% in extended trading today.

The company said lower spending by cloud computing clients in a weak economy is to blame for “continued weakness in bookings.”

Earlier, Juniper had reported solid second-quarter results, with earnings before certain costs such as stock compensation of 58 cents per share, beating the market’s forecast of 54 cents per share. Revenue for the quarter increased 13% to $1.43 billion, just ahead of Wall Street’s target of $1.42 billion. All told, Juniper posted a net profit of $24.4 million, down from a profit of $113.4 million one year earlier.

“We delivered better than expected results during the June quarter as our teams continued to execute well and we benefited from improved supply,” said Juniper Chief Executive Rami Rahim (pictured).

However, the CEO conceded on a conference call with analysts that cloud service providers have been reducing their orders for network infrastructure gear such as routers and switches. Of course, that translates into lower sales for Juniper.

“We are currently facing some near-term order weakness from our cloud and to a lesser degree our service provider customers,” Rahim said on the call.

Juniper is a major supplier of computer networking hardware such as routers and Ethernet switches. It’s one of the main rivals to Cisco Systems Inc., and, like that company, also has a sizable business selling network management software for enterprises.

Holger Mueller of Constellation Research Inc. said Juniper deserves credit for beating the market’s expectations in the quarter, noting that it did so despite showing barely any revenue growth in its wide area network and cloud-ready data center portfolios. “All of the growth came from Juniper’s AI-driven enterprise portfolio, where revenue increased more than 60%,” the analyst explained. “Meanwhile, Juniper keeps investing in research and development, hence its profit was lower than a year ago. Had it not done this, the profit would have been decent. Now, investors will be looking at Rami Rahim and team to grow the company responsibly, keeping a careful eye on costs and investments in the next quarter.”

The weakness Juniper is facing meant that executives had to temper their expectations for the third quarter. The company forecast revenue of around $1.38 billion, plus or minus $50 million. That’s some way below Wall Street’s forecast of $1.48 billion.

The lower revenue will have a direct impact on Juniper’s profitability. As a result, executives are calling for third quarter earnings of 54 cents per share, below Wall Street’s consensus estimate of 62 cents.

Photo: SiliconANGLE

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Thu, 27 Jul 2023 12:45:00 -0500 en-US text/html https://siliconangle.com/2023/07/27/weak-forecast-gives-juniper-investors-jitters-stock-falls/

Vervotech, a startup that manages hotel room data, is the latest in a string of travel tech acquisitions by Juniper Group.

Juniper Group said Friday that it acquired the India-based startup. Terms were not disclosed. 

Vervotech’s platform analyzes hotel booking data to remove duplicate listings across suppliers, a problem that can lead to inaccuracies and missed bookings. 

Juniper Group is an operating portfolio of Vela Software, one of the six divisions of Constellation Software. Juniper Group also owns software companies Juniper Travel, TPF Software, T4W, Airport Information Systems, and IST Cruise Technology. It also acquired Peakwork in April. 

Juniper Group said it is focused on acquiring and building businesses in the industries of travel, aviation, banking, insurance, healthcare, public sector, and oil and gas. Juniper Group made six acquisitions in 2022 alone, according to its website. 

Vervotech will continue to operate independently.

Juniper Group said the Vervotech product compliments its booking engine, while the acquired company now has access to more resources for further research and development. 

Sanjay Ghare, co-founder and CEO of Vervotech, said in a statement that the company plans to expand in Europe, North America, and the Middle East.

Fri, 18 Aug 2023 06:08:00 -0500 en-US text/html https://skift.com/blog/juniper-group-acquires-hotel-tech-startup-vervotech/ No result found, try new keyword!BASINGSTOKE, England--(BUSINESS WIRE)--Juniper Research, the foremost experts in the global roaming market, predicts there will be over 1.5 billion inbound roaming connections in 2024, which are ... Sun, 13 Aug 2023 18:32:00 -0500 https://www.businesswire.com/news/home/20230813913180/en/ Country

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