Juniper Networks ( JNPR) squeaked past Wall Street earnings targets for the company's second quarter.

The Sunnyvale, Calif., maker of networking gear said that, excluding items, it earned $104 million, or 19 cents a share, in the quarter, a penny above estimates. That's up 32% from the year-ago period's adjusted profit of $157 million, or 28 cents a share.

Revenue inched higher by 3% to $786.4 million from $764.2 million.

The results were evidently not enough to impress investors, who were perhaps expecting more during an earnings season fraught with upside surprises in just about every industry. Juniper shares were down 5% in after-market trading to $25.13. The stock gained 4% in the regular session.

Juniper struck confident notes in its earnings release after the market, trumpeting its sequential growth rather than year-over-year comparisons. Juniper CEO Kevin Johnson said the company performed particularly well in the enterprise market -- that is, equipment sold to businesses rather than Internet service providers.

Juniper's behemoth rival Cisco Systems ( CSCO) won't report until Aug. 5.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

If you liked this article you might like

7 Essential Rules for Investing in Tech Stocks

John Chambers' Exit From Cisco Could Pave the Way for Big Moves

Why Intel, Nvidia and Others Are Seeing Their Sales to Cloud Giants Soar

After Cisco's Dive Drags Tech, Here's What Wall Street's Top Analyst Had to Say

Cisco's Quarter Features a Mix of Troubling and Encouraging Numbers