Juniper Reports an Upbeat Q1 Early

Juniper Networks Inc. (NYSE: JNPR) reported a larger than expected non-GAAP profit on Tuesday, sending the stock higher even as the company said the economy remains a question mark.

For its first quarter, which ended March 31, Juniper reported profits of $16.3 million, or 3 cents per share, on revenues of $1.03 billion. That's compared with net income of $129.75 million, 24 cents per share, on revenues of $1.1 billion for the first quarter last year.

Non-GAAP net income of 16 cents per share beat analysts' consensus prediction of 13 cents, according to Thomson Reuters . Revenues beat the consensus of $976.84 million.

Juniper's earnings release cautioned that the near-term economy could still be trouble. The company is predicting second-quarter earnings and net income to be about the same as the first quarter's; analysts were expecting non-GAAP net income to grow to 20 cents.

Juniper put its earnings out about half an hour before the market closed Tuesday. Its share got a jolt in response, trading up $2.04 (10 percent), to $22.21 at press time.

— Craig Matsumoto, Managing Editor, Light Reading

Pete Baldwin 12/5/2012 | 5:35:16 PM
re: Juniper Reports an Upbeat Q1 Early

Low GAAP net income was attributed to restructuring and a "writedown of an equity investment."

Wonder what that was. It didnt come up during the earnings call.

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