Shares of Juniper Networks (NASDAQ:JNPR) climbed over 7% intra-day today following its Q3 results that outperformed expectations.
The company posted an adjusted EPS of 60 cents and revenue of $1.40 billion, surpassing analyst predictions of 55 cents per share and $1.39 billion in revenue. Service revenue increased by 12% year-over-year, compensating for a 7.2% drop in Product revenue. However, the cloud segment’s sales decreased by 28% to $269.6 million, falling short of the projected $286.4 million.
For the upcoming quarter, Juniper anticipates revenue between $1.35-1.45 billion and an adjusted EPS of around $0.63, with a variance of 5 cents. This is in comparison to the analyst forecast of 62 cents per share on revenue of $1.41 billion.