Sign up USA
Proactive Investors - Run By Investors For Investors

Juniper Networks shares drop as it lowers third quarter revenue and earnings guidance

Juniper Networks chief executive Rami Rahim said the company is "disappointed" by its lower-than-anticipated revenue but remains focused on sustainable growth
Sales to cloud computing operators missed expectations

Networking technology vendor Juniper Networks Inc. (NYSE:JNPR) has lowered its third quarter revenue and earnings guidance after sales to cloud computing operators fell short of expectations.

In reaction shares fell 5.62% to US$23.35 each in US pre-market trading.

Juniper now expects revenue in the third quarter to be in the range of US$1.25bn to US$1.26bn, below the previous guidance of US$1.29bn to US$1.35bn.

The company said the cut to estimates was primarily due to lower-than-expected revenue in cloud computing.

Juniper also reduced its adjusted earning per share expectations to 54 cents to 56 cents, from a previous projection of 55 cents a share to 61 cents a share.

“Although we are disappointed in our lower-than-anticipated revenue, we remain focused on operational excellence, cost efficiencies, and delivering long-term, sustainable growth," said chief executive Rami Rahim.

View full JNPR profile View Profile

Juniper Networks Timeline

January 24 2014

Related Articles

Telecoms board
July 10 2018
"The excellent result for this year was delivered through a combination of strategic acquisition and organic contract wins, maintaining margins on customer contracts and maintaining high levels of operational efficiency."
Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use