Juniper Networks Q4 Net Beats Views; Stock Rallies
Juniper Networks, Inc. (NYSE: JNPR) gained in Tuesday's extended session after posting results that beat profit expectations, even as revenue fell 14 percent.
The Sunnyvale, California network infrastructure company changed hands recently at $22.89, up nearly 5 percent.
Juniper swung to a fourth-quarter net loss of $769.6 million, or $1.81 a share, from a year-earlier profit of $151.8 million, or $0.30 a share.
Adjusted fourth-quarter income was $0.40 a share, down 5 percent from a year earlier, which excluded an $850 million impairment charge related to its security-reporting unit.
Revenue for the recent period fell to $794 million, from $973.5 billion a year earlier.
Wall Street expected fourth-quarter earnings of $0.30 a share on $1.06 billion in revenue.
Juniper forecasts first-quarter adjusted income between $0.28 and $0.32 per share, on revenue of $1.02 billion to $1.06 billion.
Wall Street projects earnings of $0.30 a share on revenue of $1.02 billion.
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