This story has been updated with the correct analyst estimates for Juniper.
NEW YORK (
(JNPR - Get Report)
shares are down sharply in after-hours trading, following a cut to its fourth quarter earnings.
The networking giant said it expects to earn between 26 cents and 28 cents per share for the fourth quarter ending Dec. 31. It expects revenue will come in between $1.11 billion and $1.12 billion. Juniper had previously seen earnings of 32 cents to 36 cents per share on $1.16 billion to $1.22 billion in revenue.
Analysts polled by
expect earnings of 34 cents per share on $1.19 billion in revenue.
Shares were off 3.3% to $20.82 in after-hours trading on almost 800,000 shares, according to
In a statement, the company blamed "weaker than expected router demand from service providers." It also mentioned that a significant portion of this weakness came from U.S. service providers.
Juniper will deliver full results Jan. 26 after the market close.
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Written by Chris Ciaccia in New York
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