Juniper Networks Q4 Net Beats Views; Stock Rallies

Juniper Networks

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 year-earlier profit of $151.8 million or $0.30 cents a share. Adjusted fourth-quarter income was $0.40 cents a share, down 5 percent from a year earlier, and excluding 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 cents a share on $1.06 billion in revenue. Juniper forecast first-quarter adjusted income between $0.28 cents and $0.32 cents a share, on revenue of $1.02 billion to $1.06 billion. Wall Street projects earnings of $0.30 cents a share on revenue of $1.02 billion.