Juniper Networks Growth Driven by Cloud
#Juniper generated $5B in revenue in 2016, with particular success for its new QFX product line. Juniper Networks reported its fourth quarter and full fiscal year 2016 financial results on Jan. 26, showing strength in the fast growing cloud market. For the quarter, Juniper reported revenue of $1.4 billion for a five percent year-over-year gain. Net Income for the fourth quarter was flat at $197.4 million. Full year Net Income was up by three percent year-over-year to approximately $5 billion. Net Income for the year was reported at $601.2 million. Looking forward, Juniper provided first quarter fiscal 2017 guidance for revenue to be approximately $1.2 billion. Among the big successes for Juniper is the company’s QFX portfolio of high performance data center switches. During Juniper’s earnings call with financial analysts, CEO Rami Rahim commented that the QFX family of products saw strong demand with revenue increasing approximately 90 percent year-over-year in the fourth quarter and over 50 percent for fiscal year 2016.