U.S. consumers will download and upload more data on their
smartphones in 2018 than they did on their laptops in 2013,
according to a February report by Cisco Systems Inc <CSCO.O>.
Juniper's revenue from telecom customers, including Verizon
Communications Inc <VZ.N> and AT&T Inc <T.N>, rose about 10 percent
in the first quarter ended March 31.
The telecom services business accounted for more than two-thirds of
Juniper's total revenue.
Separately, AT&T said on Tuesday that it was adding Juniper as a
supplier for its cloud network expansion program.
Juniper forecast an adjusted profit of 36-39 cents per share and
revenue of $1.20 billion-$1.23 billion for the second quarter ending
Analysts on average were expecting a profit of 36 cents per share on
revenue of $1.21 billion, according to Thomson Reuters I/B/E/S.
Juniper, which has been under pressure from investors Elliott
Management Corp and Jana Partners LLC to focus on its fast-growing
networking business, said in February that it would cut $160 million
in costs annually.
Earlier this month, Juniper said it would reduce its workforce by 6
percent as part of the plan.
MKM Partners analyst Michael Genovese said there was a possibility
the company could announce further job cuts.
"I don't think they have done all the cuts they need to do to get to
$160 million in savings," he said. "I think there will be (further)
small cuts ... maybe 2 percent (of workforce) as they really get out
of some of the lower-end products."
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Juniper's net income rose to $110.6 million, or 22 cents per share,
in the first quarter from $91.0 million, or 18 cents per share, a
Revenue rose 10.4 percent to $1.17 billion.
Excluding items, the company earned 29 cents per share. Juniper took
a restructuring charge of $122 million in the quarter.
Analysts on average had expected a profit of 29 cents per share on
revenue of $1.15 billion.
The company bought back shares worth $900 million in the first
quarter as part of a program to repurchase stock worth $3 billion
over three years.
Juniper's shares were little changed in extended trading. The stock,
which has risen about 15 percent this year, closed at $25.89 on the
New York Stock Exchange on Tuesday.
(Editing by Kirti Pandey)
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