Enterprise vertical revenues up 4% YoY in Q1 2018
Juniper Networks (JNPR) has stated that it’s looking to return to revenue growth and improve profitability by the end of fiscal 2018. The firm is confident regarding its product and service offerings that are expected to help it gain traction across core verticals. Although Juniper Networks expects near-term opportunity in the cloud vertical, it’s also targeting the enterprise and service provider markets for growth.
Juniper’s Enterprise vertical experienced revenue growth of 4.0% YoY (year-over-year) in the first quarter, driven by strength in financial services and healthy trends across all technologies. Juniper is optimistic about its “compelling portfolio” in Enterprise.
Juniper Networks’ CEO, Rami Rahim, stated, “We continue to strengthen our enterprise offering and view Contrail Enterprise Multicloud as a validation of these efforts, which should bring engineering simplicity to enterprise data center environment and establish Juniper as a leader in the field of intent-based networking systems.”
Service Provider revenues fell 16% YoY
Juniper Networks’ Service Provider vertical experienced a revenue decline of 16.0% YoY in the first quarter and attributed it to seasonality. Although the firm expects its Service Provider spending to remain sluggish in fiscal 2018, it’s estimated to be better than the March quarter. Juniper has gained market share among large service provider customers, driven by software disaggregation and integrated optical capabilities for core and edge networking requirements.
Juniper Networks believes it can gain market share in the service provider space with tailwinds such as 5G to assist revenue growth over the next few years.