Cisco 3Q Net Income Rises 14 Percent
SAN JOSE (CBS/AP) — Cisco says its net income rose 14 percent in the latest quarter, and says it is seeing “some good signs” in the U.S. and other markets.
The maker of computer networking equipment says it earned $2.48 billion, or 46 cents per share, in the fiscal third quarter, which ended April 27. Excluding one-time items Cisco says it earned 51 cents per share. Revenue increased 5 percent, to $12.22 billion from $11.59 billion.
Analysts surveyed by FactSet expected 49 cents per share and $12.18 billion in revenue.
Cisco’s performance is widely regarded as a way to assess the state of the technology industry. That’s because the San Jose company cuts a broad swath while selling its routers, switches, software and services to corporate customers and government agencies around the world.
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