Juniper Jumps on Q1 Earnings Results

In a bizarre move, Juniper Networks

Q1 earnings results were released late in Tuesday's regular trading session. The quarterly report had been scheduled to be released after the market close. The company reported non-GAAP net income of $83.99 million or $0.16 per share, versus $177.51 million or $0.32 per share in last year's first quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.13. Revenues for the quarter were $1.03 billion versus $1.10 billion a year ago. This came in ahead of Street consensus revenue estimates of $976.84 million. Looking ahead to Q2, JNPR sees non-GAAP earnings per share between $0.15 and $0.17 and revenues in a range of $1.03 billion to $1.06 billion. Currently, analysts expect the company to report EPS of $0.20 on revenues of $1.05 billion in Q2. In the wake of JNPR's earnings release, the stock surged on heavy volume and closed Tuesday's regular trading session up 7.24% at $21.63.