July 24, 2012 / 9:23 PM / 7 years ago

UPDATE 1-Juniper Networks results beat estimates; shares rise

* Q2 adj EPS $0.19 vs est $0.16

* Q2 rev $1.07 bln vs est $1.05 bln

* Expects Q3 adj shr $0.15-$0.18 vs est $0.21

* Sees Q3 rev $1.04 bln-$1.08 bln vs est $1.02 bln

July 24 (Reuters) - Juniper Networks Inc’s second-quarter results beat Wall Street estimates as core router products gained traction, but the network gear maker forecast a lower-than-expected third quarter, citing global economic uncertainty.

Shares of Juniper rose 7 percent to $15.81 in after hours trade.

A faltering U.S. recovery and weakness in Europe has hit network gear makers as their biggest customers, mostly telecom service providers, cut spending on new equipment.

Juniper, which supplies routers and switches to telecom companies such as Verizon Communications Inc and AT&T Inc , sees third-quarter adjusted earnings of 15 cents to 18 cents per share on revenue of $1.04 billion to $1.08 billion.

Analysts on average expected third-quarter earnings of 21 cents, on revenue of $1.02 billion, according to Thomson Reuters I/B/E/S.

Net income for the second quarter halved to $57.7 million, or 11 cents per share, from $115.6 million, or 21 cents per share, a year earlier.

Excluding items, it earned 19 cents per share, beating Wall Street estimates of 16 cents per share. Revenue fell 4 percent to $1.07 billion.

Analyst had estimated revenue of $1.05 billion for the quarter.

Juniper’s shares closed at $14.81 on the New York Stock Exchange.

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