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What: Juniper Networks
So what: For the second quarter, non-GAAP EPS of $0.31 missed the $0.34 consensus estimate and increased only 3% year over year. GAAP EPS declined 11% year over year to $0.21. Revenue increased 15% to $1.12 billion, falling short of the $1.15 billion consensus forecast.
Now what: The company said the disappointing results and outlook were the result of, "[A] number of factors ... including mixed signals in the macro economy ..." It emphasized expense control measures to cope with the near-term environment and new products aimed at improving results over the long term, suggesting management doesn't expect near-term improvements. Juniper guided third quarter non-GAAP EPS to $0.26-$0.30 and revenue to $1.07 billion-$1.12 billion. Both are well below consensus expectations for non-GAAP EPS of $0.38 and revenue of $1.22 billion. The negative comments from Juniper are also pressuring stocks of competitors Alcatel-Lucent
Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.