Juniper Networks Earnings: Profits Dropped, But Investors Like the Details
Rising costs did not help S&P 500 (NYSE:SPY) component Juniper Networks (NYSE:JNPR) in the first quarter as profit dropped from a year earlier. Juniper Networks, Inc. offers products and services that facilitate the deployment of services and applications over the Internet.
Juniper Networks Earnings Cheat Sheet for the First Quarter
Results: Net income for Juniper Networks fell to $129.8 million (24 cents/share) vs. $163.1 million (30 cents/share) a year earlier. A decline of 20.5% from the year earlier quarter.
Revenue: Rose 20.7% to $1.1 billion YoY.
Actual vs. Wall St. Expectations: JNPR fell short of the mean analyst estimate of 32 cents/share. Estimates ranged from 30 cents per share to 34 cents per share.
Quoting Management: “Juniper delivered solid results in the first quarter and continued to build on market momentum,” said Kevin Johnson, chief executive officer at Juniper Networks. “We are executing on our innovation roadmap with new solutions that define our vision of the new network. Innovation is at the core of our multi-year growth agenda.”
The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 22.8%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 26.4% from the year earlier quarter.
Competitors to Watch: Cisco Systems, Inc. (NASDAQ:CSCO), Alcatel-Lucent (NYSE:ALU), Riverbed Technology, Inc. (NASDAQ:RVBD), ADTRAN, Inc. (NASDAQ:ADTN), Ciena Corporation (NASDAQ:CIEN), and Tellabs, Inc. (NASDAQ:TLAB).
Today’s Performance: Shares of JNPR are up over 3% in after hours trading.