January 25, 2011 / 9:23 PM / 9 years ago

Juniper beats forecasts on strong network spending

A woman walks past a banner with the logo of Juniper Networks Inc. covering the facade of the New York Stock Exchange, October 29, 2009. REUTERS/Brendan McDermid

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

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