Juniper Networks profit soars on higher telecom carrier spending

Thu Jan 23, 2014 4:12pm EST

Jan 23 (Reuters) - Network gear maker Juniper Networks Inc's quarterly profit rose 59 percent due to higher spending by U.S. telecom carriers.

Net income rose to $151.8 million, or 30 cents per share, in the fourth quarter ended Dec. 31, from $95.7 million, or 19 cents per share, a year earlier.

Revenue rose 12 percent to $1.27 billion.

Last week, hedge fund Elliott Management urged the company to cut costs, buy back shares and consider slimming down to focus on its core business of making routers and switches for carriers such as Verizon and AT&T Inc.