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Juniper Q3 Results Top Estimates Amid Strong Demand, Easing Supply Chain Woes

AuthorYasin Ebrahim
Published 10/26/2022, 04:58 AM
JNPR
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By Yasin Ebrahim 

Investing.com -- Juniper reported Tuesday better-than-expected quarterly results as strong demand and easing supply issues bolstered results. 

Juniper Networks (NYSE:JNPR) was up more than 4% in afterhours trading following the report.

Juniper reported earnings per share of $0.58 on revenue of $1.41 billion. Analysts polled by Investing.com anticipated EPS of $0.50 on revenue of $1.35B.

The better-than-expected results were helped by product sales growth of 25% year-on-year, across "all customer verticals and all customer solutions," the company said.

Looking ahead, the company said it expected to deliver continued revenue strength in Q4, and sustained growth in 2023 and beyond, citing current demand, strong backlog and the actions taken to procure more supply.

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