Juniper Networks Inc. JNPR, -0.18% shares rose in the extended session Tuesday after the network and cybersecurity company reported preliminary results and an outlook roughly in-line with Wall Street estimates. Juniper Networks shares rose 3.3% after hours, following a 0.2% decline in the regular session to close at $21.85.
The company reported third-quarter net income of $145.4 million, or 43 cents a share, compared with $99.3 million, or 29 cents a share, in the year-ago period. Adjusted earnings were 43 cents a share. Revenue rose to $1.14 billion from $1.13 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 43 cents a share on revenue of $1.12 billion. “We experienced better-than-expected demand during the September quarter, as our teams continued to execute extremely well, despite the various challenges created by the pandemic,” said Juniper Chief Executive Rami Rahim in a statement. “I am encouraged by the business momentum we are seeing, particularly in our enterprise and service-provider verticals.” Juniper expects earnings of 48 cents to 58 cents a share on revenue of $1.14 billion to $1.24 billion, while analysts had forecast earnings of 53 cents a share on revenue of $1.18 billion.