Juniper Networks shares were tumbling in after-hours trading Monday after the networking vendor lowered its preliminary first-quarter revenue estimate by upward of $100 million because of lower-than-expected enterprise sales, according to an SEC filing.
“[As] the drop looks like it’s because of the enterprise, it does raise the alarm a bit for us as a partner,” said one top executive from a solution provider and longtime Juniper partner who declined to be named.
The Sunnyvale, Calif.-based networking vendor gave an initial first-quarter revenue guidance of $1.15 billion to $1.19 billion, but is now expecting it to be in the range of $1.09 billion to $1.1 billion, according to the Monday filing.
