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By Dean Seal
Juniper Networks shares advanced after the company’s third-quarter results exceeded analyst expectations.
The stock was up 7% at $26.84 around noon. Shares are still down 16% year-to-date.
The provider of high-performance networking and cybersecurity products posted a profit of $76.1 million, or 24 cents a share, compared with $121.5 million, or 37 cents a share in the same period a year earlier.
Stripping out one-time items, adjusted earnings were 60 cents a share. Analysts surveyed by FactSet had been expecting 55 cents a share.
Revenue slipped to $1.4 billion from $1.41 billion last year, above analyst projections for $1.39 billion, according to FactSet.
For the fourth quarter, Juniper expects $1.35 billion to $1.45 billion in revenue. Adjusted earnings, which strip out one-time items, are forecast to be 58 cents to 68 cents a share. Both figures are in line with analyst estimates.
Write to Dean Seal at [email protected]
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