Shares of Networking hardware maker Juniper Networks fell Monday after the networking infrastructure maker beat on revenue and earnings but posted disappointing guidance.
The stock fell 2.9% to $23.76 a share in postmarket trading Monday, after having fallen 0.37% in regular trading hours.
Earnings per share came in at an adjusted 58 cents per share, beating Wall Street estimates of 57 cents and declining 3% year-over-year. Revenue was $1.2 billion, beating analysts expectations of $1.187 billion and growing 2% year-over-year. Routing revenue, the company's largest segment, was $424 million, beating estimates of $416 million.
"We returned to year-over-year growth during the December quarter and saw encouraging trends across various areas of our business, including record Enterprise sales, double digit year-over-year growth in the Cloud, solid momentum with Mist, and another quarter of strength in our services organization,” said CEO Rami Rahim. “We believe we are executing well and positioned to sustainably grow the business starting this year.”
The company guided for Q1 revenue of $1.03 billion, plus or minus $30 million, against analysts estimates of $1.034 billion. EPS is expected at between 24 cents and 30 cents, just below estimates of 31 cents.
The stock is down 15% in the past year.