Juniper Networks rebounds in Q4, looks to grow SaaS business

Juniper Networks continued its recovery in Q4 picking up steam and beating investor expectations by a narrow margin. The networking vendor’s fourth-quarter 2020 revenues reached $1.22 billion during the quarter, up 1.7% year over year.Juniper’s Q4 revenues continued the company’s rebound in the wake of the COVID-19 pandemic, which the company blamed for depressed earnings during the previous quarters.

“We are exiting 2020 following two consecutive quarters of year-over-year growth and entering the new year with good momentum.He also said that the company would continue to make investments in software, particularly software-as-a-service (SaaS) offerings,” Juniper CEO Rami Rahim said. Juniper’s Q4 rally helped to stave off what could have been a larger decline, and keeping full-year revenues relatively flat in 2020. The company posted 2020 revenues of $4.4 billion down $300,000 from 2019.

Juniper plans to build on these acquisitions in a similar vein to Mist, which has steady become a larger part of the company’s subscription revenues. On that subject, Rahim highlighted several areas of focus for the company going into the 2021 fiscal year. These include artificial intelligence (AI) for the enterprise, cloud data center, an automated WAN.