Earnings roundup: Juniper's Q2 beats, Akamai shares take a hit
Network equipment maker Juniper Networks published its fiscal second-quarter earnings on Tuesday.
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The Sunnyvale, Calif.-based company reported a net income of $179.8 million, or 47 cents per share. Non-GAAP earnings were 57 cents per share on revenue of $1.31 billion.
Wall Street was expecting earnings of at least 54 cents per share on revenue of $1.29 billion.
The company ended the quarter with $4.2 billion in cash, equivalents, and investments, compared to $3.5 billion at the end of the same quarter a year ago.
In a prepared statement, Juniper CEO Rami Rahim said the company was in a good revenue position is seeing growth in its cloud products.
"We believe our innovative product portfolio has us well positioned to expand our business opportunities as customers look for high-performance network solutions that deliver scale, performance and automation," he said.
For its fiscal third-quarter earnings, Juniper said it expects revenues to land around $1.32 billion. Non-GAAP earnings per share are expected to land between 55 cents and 61 cents.
Wall Street was looking for 58 cents a share on revenue of $1.33 billion.
Akamai also reported earnings Tuesday. The cloud services provider previously lowered its Q2 revenue guidance, citing significant weakness in video game downloads.
That said, Akamai delivered second quarter earnings of $57.7 million, or 33 cents a share, on revenue of $609 million, up 6 percent from a year ago. Non-GAAP earnings for the quarter was 62 cents a share.
Wall Street was looking for third quarter non-GAAP earnings of 60 cents a share on revenue of $604.5 million. Despite the relative beat, Akamai's shares slipped more than 8 percent after hours.
Akamai's performance and security unit delivered revenue of $376 million, up 15 percent from a year ago in constant currency. The cloud security unit had revenue of $115 million, up 32 percent from a year ago. Revenue from its media delivery products was down 9 percent year over year to $179 million.