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July 13 (Reuters) - Juniper Networks (JNPR.N) forecast third-quarter revenue below market estimates on Thursday on lower spending by cloud computing clients in a turbulent economy, sending the shares of the networking equipment maker down 6% after the bell. Cloud service providers have been cutting back on orders for infrastructure equipment such as routers and switches in a blow for companies like Juniper Networks due to an overall drop in tech spending. Juniper, which also provides network management software for companies like AT&T, Seagate and BlackBerry, said it expects revenue of about $1.38 billion, plus or minus $50 million, in the third quarter. It forecast adjusted earnings per share of 54 cents, plus or minus 5 cents, which was below expectations of 62 cents. On an adjusted basis, the company earned 58 cents per share, compared with estimates of 55 cents.
Persons: Rami Rahim, Zaheer Kachwala, Pooja Desai, Arun Koyyur Organizations: Juniper Networks, Seagate, BlackBerry, Thomson
Watch CNBC's full interview with Juniper CEO Rami Rahim
  + stars: | 2023-02-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Juniper CEO Rami RahimJuniper Networks CEO Rami Rahim joins 'TechCheck' to discuss his thoughts as the company missed revenue for the fourth quarter resulting in the stock slipping.
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