Juniper Networks recently announced its preliminary fourth-quarter results, revealing a decline in both revenue and net income. This news comes as the company is preparing to be acquired by Hewlett Packard Enterprise (HPE).
For the fourth quarter ended December 31, Juniper reported a net income of $124.3 million, equivalent to 38 cents per share. This is a decrease from the previous year's $180.4 million, or 55 cents per share. Adjusted earnings amounted to 61 cents per share, slightly below analysts' expectations of 63 cents.
Furthermore, the company experienced a decrease in revenue, with figures dropping to $1.36 billion from $1.45 billion in the same period last year. Analysts polled by FactSet had anticipated revenue of $1.41 billion.
Acquisition by HPE
HPE recently finalized a significant deal worth approximately $14 billion to acquire Juniper Networks. This acquisition is seen as a strategic move by HPE, focusing on expanding its networking capabilities and leveraging artificial intelligence.
The deal is expected to close sometime between late 2024 and early 2025, according to Juniper.
Given the pending transaction with HPE, Juniper has decided not to provide financial guidance in conjunction with its quarterly results.