3Com Profit Meets Reduced Forecasts

3Com Corp. said its profit jumped more than tenfold in the fiscal third quarter, in line with expectations that were lowered this month when the computer networking company warned that slowing sales would hit earnings. Profit from operations rose to $89.6 million, or 24 cents a share, from $7.41 million, or 2 cents, a year ago. After 3Com’s warning March 2, analyst forecasts were dropped to 23 cents from 36 cents, according to First Call Corp. The Santa Clara-based company’s revenue grew 13% to $1.41 billion.