Juniper Networks says sales to service providers are bouncing back, on Thursday reporting quarterly results and sales projections that beat expectations.
For the its second quarter, which ended June 30, Juniper reported sales of $1.22 billion, for a non-GAAP profit of 53 cents per diluted share. Analysts had predicted profit of 46 cents per share, according to Bloomberg.
Sales to service providers showed signs of revival, hitting $835 million last quarter, primarily driven by cable and cloud service providers. That’s a 1 percent increase over same period last year, and a 16 percent jump from the quarter immediately prior.
In the U.S., “the quarter-over-quarter strength was primarily due to good growth from service providers, despite continued softness from large carriers,” the company said in a statement. “Industry trends continue to unfold largely as we expected.”
For its third quarter, Juniper projects sales of $1.23 billion, for per-share profits of 50 to 54 cents per share, excluding some items. Analysts had estimated projected profits of 46 cents per share, according to Bloomberg.
Juniper stock was up as much as 10 percent in after-hours trading on Thursday.