Juniper: 2Q Earnings Snapshot
SUNNYVALE, Calif. (AP) _ Juniper Networks Inc. (JNPR) on Thursday reported second-quarter profit of $46.2 million.
The Sunnyvale, California-based company said it had profit of 13 cents per share. Earnings, adjusted for stock option expense and restructuring costs, were 40 cents per share.
The results met Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also for earnings of 40 cents per share.
The computer network equipment maker posted revenue of $1.1 billion in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $1.11 billion.
For the current quarter ending in October, Juniper expects its per-share earnings to range from 43 cents to 49 cents.
The company said it expects revenue in the range of $1.12 billion to $1.18 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.15 billion.
Juniper shares have fallen nearly 2% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. In the final minutes of trading on Thursday, shares hit $26.48, a drop of 6% in the last 12 months.