Juniper Networks Inc. (NASDAQ:JNPR) came out with a mixed third-quarter earnings report, as the company met expectations on the bottom line but reported revenue that narrowly missed the Street.

The networking-equipment manufacturer posted profit of $134.5 million, or 25 cents a share, compared with earnings of $83.8 million, or 16 cents a share, one year ago. Adjusted earnings improved to 32 cents a share, up from 23 cents in the year-ago quarter.

Revenue rose 23% to $1.01 billion, up from $823.91 million in the third quarter of last year. Gross margin improved to 66.9%, up from 65.9% in the same period last year.

Analysts polled by Thomson Reuters had predicted earnings of 32 cents a share on revenue of $1.02 billion.

"Juniper's results reflect our ability to deliver on the promise of the New Network with cost effective solutions that scale to meet growing network demand," said Kevin Johnson, Juniper's chief executive officer in a release. "We anticipate customer demand to remain healthy and are well-positioned to drive further gains as we enable the deployment of secure, scalable wireless networks and deliver solutions to the growing cloud computing market."

Shares of Juniper fell 4.5% in Tuesday’s session, before falling another $2.54, or 8.3%, in trading after the market closed.