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.
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