Juniper stabilizes in Q1, but Q2 profit outlook light

Summary:Juniper remains cautious about demand, but does manage to top lower expectations in the first quarter.

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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Topics: Banking

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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