Juniper back in the black

Listen to this article

00:00
00:00

This is an experimental feature. Give us your feedback. Thank you for your feedback.

What do you think?

A 61per cent surge in sales of network components and security products enabled Juniper Networks, the world's second-largest internet equipment maker, to swing to a second-quarter profit.

Juniper, which makes gear that directs traffic over the internet and corporate networks, reported said a second quarter net profit was $89m, or 15 cents per share, compared with a net loss of $12.6m, or 2 cents per share, in the same period a year ago. The results last year reflected Juniper's acquisition of network security company NetScreen Technologies.

Revenues were $493m compared with $306.9m a year ago and earnings not including items was 18 cents per share. On that basis, analysts were expecting Juniper to earn 17 cents per share on sales of $475.1m.

For the current third quarter, Juniper forecast revenue of $525m-$530m, topping Wall Street expectations of $496m. Earnings, excluding items, were seen at 18 cents per share in the quarter, in-line with analyst expectations.

Shares in Juniper were trading down almost 4 per cent at $25.53 after hours after closing at $26.53 in New York on Tuesday night.

Copyright The Financial Times Limited 2017. All rights reserved. You may share using our article tools. Please don't copy articles from FT.com and redistribute by email or post to the web.