Networking equipment maker Juniper Networks this afternoon reported Q4 revenue and profit that came in ahead of Wall Street's expectations, and forecast this quarter's results in line with expectations.
Juniper stock declined by almost 3% in late trading to $26.40.
Juniper CEO Rami Rahim said that the company had "experienced better than expected Q4 demand and ended 2020 on a high note by delivering a second consecutive quarter of year-over-year revenue growth."
Added Rahim, "Despite the various challenges presented by the pandemic, we achieved many of the objectives we laid out earlier in the year, which included growing our enterprise business for a fourth consecutive year, growing our cloud business for a second consecutive year and stabilizing our service provider business."
"We believe these outcomes are a direct result of the strategic actions we have taken, which should position us for sustainable full-year revenue growth starting this year," said Rahim.
For the three months ended in December, Juniper's revenue rose 1%, year over year, to $1.22 billion, yielding EPS of 55 cents.
Analysts had been modeling $1.19 billion and 53 cents per share.
For the current quarter, the company sees revenue in a range of $1.005 billion to $1.06 billion, and EPS of 20 cents to 30 cents. That compares to consensus for $1.03 billion and 25 cents.