Juniper Slides After Preliminary Results Miss Forecast
This article is for subscribers only.
Juniper Networks Inc. fell the most in more than two months after reporting preliminary third-quarter results that missed its own forecast, citing lower-than-expected demand from service providers, particularly in the U.S.
Revenue is projected to be $1.11 billion to $1.12 billion, less than Juniper’s own estimate of $1.15 billion to $1.2 billion, the Sunnyvale, California-based company said in a statement yesterday. Adjusted earnings per share will be 34 cents to 36 cents, compared with its earlier 35 cent to 40 cent-projection.