Juniper Networks beat Wall Street estimates for the third quarter, reporting earnings of $148.5 million, or 27 cents per share, up from $85.1 million, or 15 cents per share, for the same quarter last year. (statement) Adjusted profit was 32 cents. Revenue for the quarter was $947 million, up 29 percent over $735 million a year ago. Analysts has been expecting earnings of 27 cents on revenue of $852 million, according to First Call.
Company CEO Kevin Johnson said, in a statement: “Juniper delivered a solid quarter during a period of global economic uncertainty... The long-term growth potential of the high-performance networking market is strong and, even in this uncertain economic climate, we are cautiously optimistic about our near-term opportunities.”
Shares of Juniper were down more than 6 percent in regular trading, closing at $17.83, but were on the rise in regular-trading, up more than 2 percent.