Juniper Networks Stock Crushed By Weak Outlook

Juniper Networks stock plunged 12% after hours Wednesday, after the company offered an outlook for the current quarter that fell short of estimates. The company said it had net income of $197.8 million, or 51 cents a share, in the fourth quarter, after a loss of $796.6 million, or $1.81 a share, in the year-earlier period. Adjusted per-share earnings came to 63 cents, ahead of the FactSet consensus of 60 cents. Revenue rose 20% to $1.32 billion, also ahead of the FactSet consensus of $1.30 billion. The company said it now expects first-quarter adjusted EPS of 42 cents to 46 cents and revenue of about $1.17 billion. The FactSet consensus is for EPS of 47 cents and revenue of $1.19 billion. Juniper said Chief Financial Officer Robyn Denholm is retiring following the filing of its 10-K. She will be replaced by Senior Vice President for Finance, Ken Miller. Shares have gained 22% in the last 12 months, while the S&P 500 is down about 7%.