beat expectations with its second-quarter earnings report, and the stock was moving higher in late trading.
The Sunnyvale, Calif.-based networking gearmaker posted net income of $120.4 million, or 23 cents a share, up from $86.1 million, or 16 cents a share, in the year-ago period. Adjusted for one-time items, Juniper had a profit of 28 cents a share.
On average, analysts had been looking for a profit of 27 cents a share, according to Thomson Reuters.
Sales for the quarter were $879 million, a 32% increase over the $664.9 million level last year. That top line exceeded analysts' estimates calling for sales of $852.2 million.
"We are generating more profitable revenue growth and are also driving greater operating efficiency by building expense discipline into our ongoing business model," said Juniper CFO Robyn Denholm in a statement. "We are making good progress toward our performance targets."
Earlier Thursday, Juniper announced that Kevin Johnson, who previous held an executive position with
, would take over as chief executive officer.
Shares of Juniper finished down 32 cents, or 1.4%, to $22.57, but rose 1.8% in after-hours trading.
Among other networking-equipment makers,
was off 1.9%, and
tacked on 0.7%.