Juniper Networks Posts Profit, Sees Sales Rise

Network equipment maker Juniper Networks Inc. posted a quarterly profit as revenue rose 13% on improved spending by telecommunications carriers.

Juniper reported third-quarter net income of $7.2 million, or 2 cents a share, on revenue of $172.1 million, contrasted with a net loss of $88.3 million, or 24 cents, on revenue of $152 million a year earlier.

Shares of Sunnyvale, Calif.-based Juniper rose to $18.88 after hours from a Nasdaq close of $18.40.

* Marriott International Inc.’s earnings fell 10% in the third quarter, but the hotel operator said recovery from a travel slump appeared to be starting. Marriott reported earnings of $92 million, or 37 cents a share, down from $103 million, or 41 cents, a year earlier. Revenue climbed 9.2% to $2.1 billion.

* Abbott Laboratories said third-quarter profit climbed 6% as the introduction of the company’s Humira arthritis medicine boosted its U.S. drug sales. Net income increased to $761.2 million, or 48 cents a share, from $720.1 million, or 46 cents, a year earlier. Sales rose 12% to $4.85 billion.

* Handspring Inc., which is being acquired by Palm Inc., said it had a narrower first-quarter loss as it cut total costs by 60%. The net loss was $13.9 million, or 9 cents a share, from $15.3 million, or 11 cents, a year earlier. Sales declined 76% to $13.1 million.