Juniper Networks revenue drops 4% in Service Provider biz

Juniper Networks said its fourth quarter revenue rose 1 percent to $1.223 billion – lifted by Enterprise and Cloud business segments.
Juniper Networks IndiaRevenue growth of 1 percent was the second consecutive quarter of year-over-year growth. Enterprise revenue increased 7 percent. This was a record quarter for Enterprise vertical. Cloud grew slightly year-over year.

Sunnyvale, CA-based Juniper Networks said Service Provider revenue declined 4 percent.

Juniper Networks CEO Rami Rahim said: “Despite challenges presented by the pandemic, we achieved many of the objectives we laid out earlier in the year, which included growing our enterprise business for a fourth consecutive year, growing our cloud business for a second consecutive year and stabilizing our service provider business.”

Routing revenue increased 9 percent to $462 million driven by Enterprise and Cloud, partially offset by a decline in Service Provider. Both MX and PTX product families grew.

Switching revenue decreased 2 percent to $261 million driven by Cloud, partially offset by growth in Enterprise and Service Provider. Revenue from the QFX product family decreased. Revenue from the EX product family grew.

Security revenue fell 14 percent to $87 million primarily due to Service Provider, and to a lesser extent, Cloud and Enterprise.

Services business decreased 1 percent primarily driven by timing of renewals.

Software revenue was 12 percent of total revenue.

Top 10 customers include three from Cloud, six from Service Provider, and one from Enterprise. Top 10 customers accounted for 30 percent of total revenue as compared to 33 percent in Q4 2019.

Juniper Networks said its revenue from Cloud business slightly rose to $281 million driven by Routing and to a lesser extent, Services, offset by a decline in Switching and Security.

Juniper Networks said its revenue from Service Provider business fell 4 percent to $475 million mainly due to Services.

Juniper Networks said its revenue from Enterprise business increased 7 percent to $467 million, driven by Routing, and to a lesser extent, Switching and Services, partially offset by a decline in Security.

Juniper Networks generated Q4 2020 revenue of $633 million (–7 percent) from Americas, $364 million (+8 percent) from EMEA and $227 million (+16 percent) in Asia Pacific including India.