Juniper Shares Slip As Earnings Fall Below Street View
Juniper Networks Inc. shares declined in the extended session Thursday after the networking company's earnings came in at the high end of an April profit warning but were still below Wall Street estimates. Juniper shares declined 0.8% to $23.22 after hours. The company reported first-quarter earnings of 37 cents a share on revenue of $1.1 billion. Earlier in the month, Juniper cut its earnings outlook for the first quarter to a range of 35 cents and 37 cents a share because of weaker business demand. Even with the profit warning, analysts surveyed by FactSet were last forecasting 39 cents a share on revenue of $1.12 billion. For the second quarter, Juniper sees adjusted earnings of 44 cents to 50 cents a share on revenue of $1.16 billion to $1.22 billion. Analysts had estimated earnings of 50 cents a share on revenue of $1.21 billion.
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