Juniper Results Surpass Estimates, Q3 Outlook Robust; Stock Up 10%

(RTTNews) - Networking equipment maker Juniper Networks Inc (JNPR) on Thursday reported second-quarter net earnings of $158 million or $0.40 per share compared with $221 million or $0.46 per share last year.

Excluding items, adjusted earnings for the quarter were $0.53 per share compared with $0.40 per share a year ago.

Revenues for the quarter were $1.22 billion compared with $1.23 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.40 per share on revenues of $1.11 billion for the quarter. Analysts' estimates typically exclude special items.

Operating margin for the quarter improved to 19.9% from 9.4% last year.

"We exceeded both our revenue and earnings expectations for the quarter, a reflection of the strength in our underlying business and the focused execution of our strategy," said Robyn Denholm, chief financial and operations officer of Juniper. "We remain committed to our strong focus on operational fundamentals and the effective management of our cost structure."

For the third quarter, the company expects adjusted earnings of $0.50 to $0.54 per share on revenues of $1.23 billion, plus or minus $20 million. Analysts expect earnings of $0.46 per share on revenues of $1.16 billion.