Juniper Networks Cuts Q3 Outlook

(RTTNews) - Networking gear maker Juniper Networks, Inc. (JNPR) on Thursday lowered its third quarter revenue outlook to a range of $1.11 billion to $1.12 billion from its previous guidance of $1.15 billion to $1.20 billion, mainly due to lower-than-anticipated demand from service providers, particularly in the U.S.

Due in part to the company's continued focus on cost reduction initiatives and the benefit of reduced variable compensation for the quarter, Juniper cut its adjusted earnings outlook for the third quarter to a range of $0.34 to $0.36 per share from its prior outlook of $0.35 to $0.40 per share.

Analysts polled by Thomson Reuters currently expect the company to earn $0.38 per share on revenue of $1.18 billion for the third quarter. Analysts' estimates typically exclude special items.