Juniper's revenue rises as telecom clients ramp up networks

Tue Apr 22, 2014 7:20pm EDT
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By Lehar Maan and Sampad Patnaik

(Reuters) - Network gear maker Juniper Networks Inc (JNPR.N: Quote) reported a higher-than-expected 10 percent rise in quarterly revenue as U.S. telecom carriers spent more to ramp up their networks to manage increasing data traffic on smartphones and tablets.

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: Quote).

Juniper's revenue from telecom customers, including Verizon Communications Inc (VZ.N: Quote) and AT&T Inc (T.N: Quote), 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 June 30.

Analysts on average were expecting a profit of 36 cents per share on revenue of $1.21 billion, according to Thomson Reuters

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A woman walks past a banner with the logo of Juniper Networks Inc. covering the facade of the New York Stock Exchange, October 29, 2009. REUTERS/Brendan McDermid