Juniper Networks' (NYSE:JNPR) second quarter profit was lower than it was a year ago, but it still exceeded expectations.
Earnings and Revenue The company experienced stronger-than-expected EPS and revenues. Juniper reported adjusted net income of 19 cents a share versus the 16 cents a share estimate and revenues of $1.07 billion versus the $1.05 billion estimate. The company's reported EPS came in above the high estimate of 11 analysts of a profit of 9 cents.
The company's net income for the quarter fell 49.8% to $58 million. Revenue fell 4.2% from $1.12 billion in the same period last year.
Company Fundamental Trends Last quarter marks the third in a row in which the company has seen falling revenue on a year-over-year basis.
History Against Expectations The company topped expectations last quarter after falling short of forecasts in the first quarter. It reported net income of 16 cents versus a mean estimate of 13 cents per share.
Official Comment: "Juniper's second quarter results delivered sequential top line growth as a result of our focus on execution," said Kevin Johnson, CEO of Juniper Networks. "New products continued to gain traction in the marketplace with key customer wins across our portfolio. In a challenging macro environment, we remain focused on our operational execution, delivering great products, driving revenue and managing our cost base.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.