New Product Releases Pay Off for Juniper in Q1
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Is it safe to say the tech sector is in recovery? Not only are the component makers doing well, so are the vendors that make expensive end-user products, like Juniper Networks. The networking equipment provider did better than expected in the first calendar quarter of the year on the strength of new networking gear introductions, a good indicator that perhaps IT shops are ready to start buying. Enterprise Networking Planet breaks down the numbers.
Juniper Networks (NYSE: JNPR) is growing its revenues on the backs of new networking platforms for both service providers and enterprise IT customers.
This week, Juniper reported its first-quarter 2010 financial results, showing traction for its switching, routing and service gateway platforms as prospects for future growth continue. Juniper reported revenues of $912.6 million, a 19 percent year-over-year increase, while income came in at $163.1 million, or $0.30 per share. Wall Street had expected revenue to come in at $906 million, according to Thomson Reuters, while its earnings beat the Street's consensus estimates by a penny after one-time charges.