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Juniper Networks profit misses consensus by 39.3% in Q1

Juniper Networks, Inc. said its first-quarter normalized net income amounted to 26 cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS rose 20.8% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $99.3 million, a gain of 20.4% from $82.4 million in the prior-year period.

The normalized profit margin increased to 8.1% from 7.5% in the year-earlier period.

Total revenue grew 11.2% year over year to $1.22 billion from $1.10 billion, and total operating expenses rose 10.1% on an annual basis to $1.05 billion from $949.2 million.

Reported net income rose 21.3% year over year to $108.6 million, or 28 cents per share, from $89.5 million, or 23 cents per share.