Juniper Networks' first quarter was better than expected and a welcome improvement following recent stumbles.
The company reported first quarter earnings of $16.3 million, or 3 cents a share, on revenue of $1.03 billion, down 6 percent from a year ago. Non-GAAP earnings were 16 cents a share, three pennies better than expectations. Juniper lowered its first quarter guidance when it reported fourth quarter earnings.
In a statement, Juniper CEO Kevin Johnson said that the company had "solid execution" and that its new products have been well received.
Juniper's second quarter outlook, however, reflected "continued caution." Juniper projected non-GAAP earnings between 15 cents a share and 17 cents a share on revenue of $1.03 billion to $1.06 billion.
Wall Street was expecting earnings of 20 cents a share on revenue of $1.05 billion.
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