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Juniper Networks satisfies Q2 earnings estimates but soft on outlook

Juniper is also selling off its Junos Pulse product portfolio to Siris Capital for approximately $250 million.
Written by Rachel King, Contributor

Marking its sixth quarter of year-over-year revenue growth, Juniper Networks published second quarter earnings after the bell on Tuesday.

The networking equipment provider reported a net income of $221.1 million, or 46 cents per share (statement).

Non-GAAP earnings were 40 cents per share on a revenue of $1.23 billion.

Wall Street was expecting earnings of at least 38 cents per share on a revenue of $1.22 billion.

A year after the previous chief executive announced his resignation, CEO Shaygan Kheradpir reflected on the second quarter of 2014 in prepared remarks.

Juniper delivered another solid quarter of revenue growth, with continued diversification across our target verticals. With our focused strategy, we are seeing clear signs of success with customers who are in a build cycle for High-IQ networks and Cloud ecosystems. We are relentlessly executing on our Integrated Operating Plan and successfully implemented several initiatives to drive greater efficiencies across our organization. Throughout, we have been working to ignite our culture of innovation and maintain our unwavering commitment to shareholders to drive significant value through profitable growth.

The Sunnyvale, Calif.-based company also dropped another nugget of news within the Q2 report. Juniper is selling off its Junos Pulse product portfolio to tech-focused private equity firm Siris Capital for approximately $250 million.

Junos Pulse is a client application designed to provide dynamic SSL VPN connectivity and secure network access control for for mobile and non-mobile devices.

For the current quarter, analysts expect Juniper to deliver earnings of 44 cents per share on a revenue of $1.26 billion.

Juniper followed up with a revenue guidance range of $1.15 billion to $1.2 billion and earnings between 35 and 40 cents a pop.

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