SUNNYVALE, Calif. (AP) _ Juniper Networks Inc. (JNPR) on Thursday reported third-quarter net income of $99.3 million.
On a per-share basis, the Sunnyvale, California-based company said it had profit of 29 cents. Earnings, adjusted for one-time gains and costs, came to 48 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The computer network equipment maker posted revenue of $1.13 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $1.14 billion.
For the current quarter ending in December, Juniper expects its per-share earnings to range from 54 cents to 60 cents.
The company said it expects revenue in the range of $1.16 billion to $1.22 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $1.21 billion.
Juniper shares have declined roughly 9% since the beginning of the year, while the Standard & Poor's 500 index has increased 20%. In the final minutes of trading on Thursday, shares hit $24.51, a drop of 14% in the last 12 months.