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Juniper Network's
JNPR second quarter profit more than doubled on solid gains in both product and services revenue. Product revenue rose 7.6% percent, while services revenue increased 4.7 percent. Operating margin narrowed however, from 12 percent to 9.4 percent.
For the current quarter, the maker of infrastructure for telecommunications networks said it expects an adjusted profit between $0.35 and $0.40 per share on revenue of $1.15 billion to $1.2 billion. Analysts were looking for $0.44 on $1.26 billion.
The company also announced
plans to sell its Junos Pulse product portfolio to Siris Capital for around $250 Mln.
Shares are currently trading 4.9 percent lower in the post-trading session, at $24.82
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