Juniper Shares Rise on Earnings Beat
Juniper Networks
(JNPR) - Get Report
beat expectations with its first-quarter earnings report and the stock was trading higher in late trading.
The Sunnyvale, Calif.-based networking gearmaker posted adjusted earnings of $149.5 million, or 27 cents a share, up from a 19-cent pro forma profit in the year-ago quarter. Analysts had been looking for a 25 cent profit, according to Thomson Financial.
Sales for the quarter were $822.9 million, a 31% increase over the $626 million level last year. That top line exceeded analysts' estimates calling for sales of $815.6 million
"The strength of our first quarter results continues to underscore the value of Juniper's commitment to high-performance networking," CEO Scott Kriens said in a statement.
Shares of Juniper finished up 36 cents, or 1.4%, to $25.73 and were up 3% in recent after-hours trading.
Among other networking equipment makers,
Alcatel-Lucent
(ALU)
was down 2% in late trading,
Cisco
(CSCO) - Get Report
was off 0.2% and
Nortel
(NT)
was unchanged.








