SUNNYVALE, Calif. (AP) — Juniper Networks Inc. reported third-quarter results Tuesday that met analyst expectations as demand rose for its computer networking equipment. The company’s net income fell, however, due to increased expenses.
According to preliminary results, Juniper earned $83.7 million, or 16 cents per share. This compares with net income of $136 million, or 25 cents per share, a year earlier.
Excluding one-time items, Juniper earned 28 cents per share, matching the average estimate of analysts polled by FactSet.
Revenue rose 9 percent year over year to $1.1 billion, also meeting analyst expectations. The company’s product revenue climbed 8 percent to $862 million, while service revenue climbed nearly 16 percent to $244 million.
The company’s expenses also climbed, though, due mainly to higher research and development expenses and a restructuring charge related to layoffs.
For the current quarter, Juniper predicted revenue of $1.16 billion to $1.22 billion. Analysts are looking for $1.23 billion.
Juniper shares rose 19 cents to $21.60 in after-hours trading. The stock had finished regular trading up $1.01, or 5 percent, at $21.41.