Juniper stock is down more than 10 percent in after-hours trading today after the company reported a disappointing outlook for the start of 2016.
For its first quarter, which ends in March, Juniper anticipates revenues of $1.15 billion to $1.19 billion. Wall Street analysts had expected $1.19 billion.
The company’s prepared comments on the quarter cite “near-term macroeconomic uncertainty and potential customer investment lumpiness” as reasons for giving what Juniper admits is a conservative forecast.
Juniper shares were down 11 percent in early after-hours trading. At press time, the stock was down roughly 8 percent, at $24.49.
While the forecast, was disappointing, Juniper delivered when it came to fourth-quarter results.
For its fourth quarter, which ended Dec. 31, Juniper reported revenues of $1.32 billion and net income of $198 million, or 51 cents per share. For the same quarter a year ago, Juniper reported revenues of $1.1 billion and net losses of $770 million, or $1.18 per share.
Non-GAAP earnings per share of 63 cents outdid the analyst consensus of 59 cents tallied by Thomson Financial.