Juniper Falls Short in Q2
Juniper Networks Inc. (NYSE: JNPR)'s profits fell short of expectations in its second quarter, sending the stock down 12 percent in after-hours trading Tuesday.
For its second quarter, which ended June 30, Juniper reported revenues of $1.12 billion and net income of $115.6 million, or 21 cents per share. That's compared with year-ago revenues of $978 million and net income of $130.5 million, or 24 cents per share.
Non-GAAP net income of 31 cents per share fell 2 cents short of analysts' expectations, according to Thomson Reuters . Analysts had expected revenues of around $1.15 billion, going on the forecast Juniper issued in April. (See Juniper Unscathed by Japan So Far.)
In a press release, CEO Kevin Johnson said Juniper was happy with its routing and switching sales. "A number of factors, however, including mixed signals in the macro economy, impacted our performance this quarter," he added.
Juniper shares were down $3.95 (12.7%) at $27.22 in early after-hours trading.
— Craig Matsumoto, West Coast Editor, Light Reading