NEW YORK (Reuters) - Network equipment maker Juniper Networks Inc’s (JNPR.N) quarterly sales beat Wall Street’s expectations as phone and cable service providers bought more routers and switches.
It also disclosed a tepid outlook following a weak sales forecast earlier on Tuesday from communications equipment maker Tellabs Inc TLAB.O. The company’s shares fell slightly in after-hours trading.
Juniper, which competes with much bigger Cisco Systems Inc (CSCO.O), said its fourth-quarter revenue rose 26 percent to $1.19 billion. That beat the market’s average forecast of $1.12 billion, according to Thomson Reuters I/B/E/S.
Its quarterly profit rose to $190.2 million, or 35 cents per share, from $22.9 million, or 4 cents a share, a year earlier.
Juniper forecast first-quarter revenue of $1.06 billion to $1.11 billion, mostly in line with the market’s forecast for $1.09 billion.
It forecast first-quarter profit, excluding items, of 30 to 33 cents per share, below the market’s forecast of 34 cents a share.
Reporting by Ritsuko Ando. Editing by Robert MacMillan