Juniper Networks (NYSE: JNPR) beat Wall Street expectations as its second-quarter 2012 revenues rose 4 percent sequentially to $1.07 billion, but down 4 percent from the same period a year ago.
For the quarter, the vendor earned 19 cents per share, higher than Wall Street's forecast of 16 cents per share.
The vendor's GAAP net income was $58 million, or $0.11 per diluted share, and non-GAAP net income of $103 million, or $0.19 per diluted share.
"Juniper's second quarter results delivered sequential top line growth as a result of our focus on execution," Juniper Networks CEO Kevin Johnson said in the earnings release. "New products continued to gain traction in the marketplace with key customer wins across our portfolio."
Of course, the bigger concern on the mind of the financial analyst community is the vendor's lower than expected Q3 outlook.
With many of its largest telco customers--such as AT&T (NYSE: T) and Verizon (NYSE: VZ)--cutting back or delaying new projects amid economic uncertainty, Juniper forecast Q3 2012 adjusted earnings of 15 cents per share on revenue of $1.04 billion to $1.08 billion.
Financial analysts polled by Thomson Reuters I/B/E/S forecast Juniper to report Q3 earnings of 21 cents, on revenue of $1.02 billion.
Juniper's shares were trading Wednesday at $16.54, up $1.73, or 11.64 percent, in mid-morning trading on the New York Stock Exchange.
- see the earnings release
- Reuters has this article
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