Advertisement

Computer networking gear maker Juniper Networks Inc. said Tuesday its third-quarter net income jumped 61 percent, but it reported revenue just shy of Wall Street's expectations and its shares fell in aftermarket trading.

The company said its net income rose to $134.5 million, or 25 cents per share, from $83.8 million, or 16 cents per share in the same period last year.

Excluding stock option expenses and other one-time items, the company earned 32 cents per share, matching analysts' average forecast.

Revenue climbed 23 percent to $1.012 billion from $823.9 million.

That's about $11,000 less than than the $1.023 billion analysts forecast on average, according to Thomson Reuters.

The company said in a statement that it expects customer demand to remain healthy and said it is on track to report 20 percent growth in revenue for the full year.

Juniper's revenue totaled $3.3 billion in 2009, so a 20 percent increase would mean revenue of about $4 billion, in line with what analysts are predicting.

Shares of Juniper plunged $2.76, or 9 percent, to $27.78 in extended trading after the release of results. Earlier, the stock fell $1.43, or 4.5 percent, to close at $30.54.

Advertisement
Advertisement