Juniper Allays Fears of an Internet Equipment Slowdown

Updated from 4:41 p.m. EDT:

Juniper Networks (JNPR Quote) is taking more than market share from archrival Cisco (CSCO Quote). The upstart Internet equipment maker is starting to uproot Cisco's leadership role as well.

Juniper reported third-quarter earnings Thursday that far surpassed Wall Street's growth expectations, nearly doubling revenue from second-quarter levels. Juniper's earnings for the quarter ended Sept. 30 jumped to 17 cents a share from 8 cents in the second quarter. Revenue rocketed 78% to $201 million, from $113 million in the previous quarter. Wall Street had expected third-quarter earnings of 9 cents a share. ...