Juniper Networks' (NYSE: JNPR) dedication to cost cutting paid off in the third quarter of 2011 as the vendor reported that net revenues rose 9 percent to $1.106 billion on a year-over-year basis, surpassing analyst expectations of $1.09 billion.
At the end of Q2 2011, Juniper forecast Q3 2011 revenue would come in between $1.07 billion to $1.12 billion.
Company net profit was 16 cents a share and adjusted earnings were 28 cents, meeting analyst estimates.
Despite the Q3 gain, some concerns remain. Not only did company revenue decline 1 percent sequentially to $1.1 billion, but it forecast a slightly lower Q4 2011 outlook.
Juniper has forecast Q4 earnings to be between 32-36 cents a share on $1.16 to $1.22 billion in revenue, a figure that's slightly lower than analyst expectations of earnings of 36 cents a share, on revenue of $1.23 billion.
Global economic challenges aside, Juniper says it will continue to invest in new key product areas such as the data center, enterprise mobility and converged supercore, and continue to keep a close eye on costs.
"We will continue to carefully manage our expense structure with a focus on investing prudently in the resources that support our growth agenda and maintain our commitment to innovation," Robyn Denholm, chief financial officer at Juniper Networks said in the earnings release.
- see the release
- Reuters has this article
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