Juniper Networks Inc. Warns On Q3, Citing Weak Demand

Juniper Networks, Inc.

warned that lower-than-expected demand will push third-quarter results below Street views. The Sunnyvale, Calif., provider of network infrastructure products said revenue for the period ended Sept. 30 was hurt by weak demand from service providers, particularly in the U.S. Although noting that it's been focused on cutting costs and employees' pay, the company said earnings will be nonetheless lower than previously forecast. Juniper now expects earnings of $0.34 cents to $0.36 cents a share, on revenue of $1,11 billion to $1.12 billion, with full results expected Oct. 23. Wall Street expected earnings of $0.38 cents a share, on revenue of $1.18 billion. Previously Juniper forecast third-quarter earnings of $0.35 cents to $0.40 cents a share, on revenue of $1.150 billion to $1.200 billion. In the extended session Thursday, Juniper recently gained 04 percent to $21.02 a share.