Juniper Sales Forecast Trails Estimate, Cuts 3% of Workforce
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Juniper Networks Inc. forecast revenue for the current quarter that may miss analyst estimates and is cutting 3 percent of its workforce, indicating that demand for telecommunications equipment remains inconsistent even though mobile-Internet traffic is surging.
Profit excluding certain items in the fiscal fourth quarter will be 35 cents to 37 cents a share on sales of $1.2 billion to $1.23 billion, Juniper said in a statement yesterday. Analysts on average are projecting adjusted profit of 36 cents on $1.23 billion in revenue, according to data compiled by Bloomberg.