Juniper Networks beats revenue expectations, touts $1.8 billion order backlog
Juniper Networks' Q4 2021 results exceeded expectations with a 6% year-over-year bump in fourth-quarter revenues, while net income jumped 49% to $132.9 million, or $0.40 per diluted share.
Despite ongoing supply chain constraints, the hard networking company touted its growth across "all verticals, geographies, and customer solutions.".
In fact, fears over global supply chain shortages apparently helped Juniper by driving earlier order placements, resulting in a backlog of $1.8 billion in confirmed orders waiting to be fulfilled.
Juniper's CEO, Rami Rahim, pointed to his company's "commitment to delivering products that simplify operations and deliver a superior end-user experience" as the motivator behind its ability to "capitalize on several large and growing markets."
Also: How Juniper is using AI in SD-WAN to differentiate itself
Juniper's cloud business was a standout vertical during the final quarter, reaching 14% year-over-year. Cloud offerings remain an important expansion area for the company, as half of its top 10 exist solely within this space.
Also: Juniper's new security portal aims to ease the move to a SASE architecture
That top 10 list of customers, four of which fell into the "Service Provider" category, accounted for 31% of its total revenues in FY 2021.
The company released guidance for Q1 2022, including expected revenues of $1.15 billion, with earnings per share between $0.26 and $0.37.