Juniper Sees Continued Sluggishness After Q4 Shortfall
In its fiscal fourth quarter, Juniper reported revenue of $1.12 billion and earnings of 28 cents per share. While the results were just a tad lower than Wall Street's expectations, Juniper projected first-quarter revenue of $960 million to $990 billion, well below analysts' projections of $1.1 billion.
"The near-term environment remains challenging," Juniper CEO Kevin Johnson said on the company's earnings call.
Juniper earlier this month warned Wall Street that its fourth-quarter revenue would be lower than expected due to weaker-than-expected demand from the service provider market, from which it draws around two-thirds of its revenue.