Juniper whacked after revenue comes in light

Juniper's earnings had a familiar theme to them relative to other technology companies. The bottom line is solid to strong, but revenue relative to analysts' expectations is off a smidge.

Juniper Networks' revenue was up 23 percent from a year ago, but just a bit shy of Wall Street estimates.

The networking company reported net income of $134.5 million, or 25 cents a share, on revenue of $1.01 billion, up 23 percent from a year ago. Non-GAAP earnings were 32 cents a share (statement).

Wall Street was expecting earnings of 32 cents a share on revenue of $1.02 billion.

Juniper's earnings had a familiar theme to them relative to other technology companies. The bottom line is solid to strong, but revenue relative to analysts' expectations is off a smidge. As a result of those near misses, tech shares are taking a hit.

In a statement, Juniper CEO Kevin Johnson said that the company expects "customer demand to remain healthy." As for the outlook, Juniper said that it is on track to deliver 20 percent or higher revenue growth for 2010.

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