Juniper Networks Shares Down 7% After Earnings

Juniper Networks Inc. shares tanked late Thursday after the company beat fourth-quarter earnings and sales expectations but predicted lower-than-expected first-quarter results. Juniper said it earned $197.4 million, or 51 cents a share, in the fourth quarter, flat year-over-year. Adjusted for one-time items, the company earned $254.3 million, or 66 cents a share, compared with 63 cents a share a year ago. Revenue hit $1.39 billion in the quarter, up 5% from $1.32 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of 63 cents a share on sales of $1.36 billion. Juniper said it expects revenue of about $1.2 billion in the first quarter and an adjusted net income between 38 cents a share and 44 cents a share. The analysts surveyed by FactSet had expected first-quarter EPS of 46 cents a share.