Juniper Networks Lowers Q3 Outlook

(RTTNews) - Shares of Juniper Networks, Inc. (JNPR) fell more than 4 percent in extended trades Thursday after the computer networking gear maker lowered its revenue and adjusted earnings outlook for the third quarter. The revised outlook is below analysts' expectations.

For the third quarter, Juniper Networks now forecasts adjusted earnings in a range of $0.34 to $0.36 per share, down from the prior outlook range of $0.35 to $0.40 per share.

The Sunnyvale, California-based company said that the revised earnings outlook is partly due to its continued focus on cost reduction initiatives and the benefit of reduced variable compensation for the quarter.

On average, analysts polled by Thomson Reuters currently expect the company to report earnings of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.

Juniper Networks now forecast third-quarter revenue in a range of $1.11 billion to $1.12 billion, down from its previous guidance of $1.15 billion to $1.20 billion.

The revised revenue outlook is mainly due to lower-than-anticipated demand from service providers, particularly in the U.S.

Analysts have a consensus revenue estimate for the third quarter of $1.18 billion.

Juniper Networks will release its full preliminary third-quarter financial results on Thursday, October 23, 2014 after the close of the market.

JNPR closed Thursday's regular trading at $20.94, down $0.26 or 1.23 percent on a volume of 7.31 million shares. In after-hours, the stock further declined $0.84 or 4.01 percent to $20.10.