Juniper Edges Past Estimates

Shares rise in late trading.
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Juniper Networks

(JNPR) - Get Report

beat expectations with its second-quarter earnings report, and the stock was moving higher in late trading.

The Sunnyvale, Calif.-based networking gearmaker posted net income of $120.4 million, or 23 cents a share, up from $86.1 million, or 16 cents a share, in the year-ago period. Adjusted for one-time items, Juniper had a profit of 28 cents a share.

On average, analysts had been looking for a profit of 27 cents a share, according to Thomson Reuters.

Sales for the quarter were $879 million, a 32% increase over the $664.9 million level last year. That top line exceeded analysts' estimates calling for sales of $852.2 million.

"We are generating more profitable revenue growth and are also driving greater operating efficiency by building expense discipline into our ongoing business model," said Juniper CFO Robyn Denholm in a statement. "We are making good progress toward our performance targets."

Earlier Thursday, Juniper announced that Kevin Johnson, who previous held an executive position with

Microsoft

(MSFT) - Get Report

, would take over as chief executive officer.

Shares of Juniper finished down 32 cents, or 1.4%, to $22.57, but rose 1.8% in after-hours trading.

Among other networking-equipment makers,

Alcatel-Lucent

(ALU)

lost 0.7%,

Cisco

(CSCO) - Get Report

was off 1.9%, and

Nortel Networks

(NT)

tacked on 0.7%.