Juniper Shares Rise on Earnings Beat

The networking gearmaker jumped 3% after-hours.
By Robert Holmes ,

Juniper Networks

(JNPR) - Get Report

beat expectations with its first-quarter earnings report and the stock was trading higher in late trading.

The Sunnyvale, Calif.-based networking gearmaker posted adjusted earnings of $149.5 million, or 27 cents a share, up from a 19-cent pro forma profit in the year-ago quarter. Analysts had been looking for a 25 cent profit, according to Thomson Financial.

Sales for the quarter were $822.9 million, a 31% increase over the $626 million level last year. That top line exceeded analysts' estimates calling for sales of $815.6 million

"The strength of our first quarter results continues to underscore the value of Juniper's commitment to high-performance networking," CEO Scott Kriens said in a statement.

Shares of Juniper finished up 36 cents, or 1.4%, to $25.73 and were up 3% in recent after-hours trading.

Among other networking equipment makers,

Alcatel-Lucent

(ALU)

was down 2% in late trading,

Cisco

(CSCO) - Get Report

was off 0.2% and

Nortel

(NT)

was unchanged.

Loading ...