Updated from 4:44 p.m.


(JNPR) - Get Report

shares dipped Tuesday after the networking shop beat second-quarter targets.

For its quarter ended June 30, the Sunnyvale, Calif., Internet gearmaker earned $89 million, or 15 cents a share, reversing the year-ago loss of $13 million, or 2 cents a share. On an adjusted basis, excluding certain costs, the company made 18 cents a share, up from 8 cents last year.

Sales rose to $493 million from $307 million a year earlier. Analysts were looking for Juniper to make 17 cents a share on $475 million in sales, according to Thomson First Call.

This marks the 12th straight quarter the company exceeded Wall Street's estimates. The company also notched up third-quarter revenue guidance, saying it would post a top line of between $525 million and $530 million. That represents 7% sequential growth where Wall Street had been expecting 4%.

"The momentum we are enjoying in our brand, our portfolio and the corresponding market opportunity continues to be fueled by the confidence of our customers," CEO Scott Kriens said in a press release Tuesday.

Juniper shares fell 63 cents to $25.90 in after-hours trading.