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Cisco says its net income for the latest quarter rose 63 percent from last year, as the economic recovery continued to give customers the confidence to spend on big-ticket networking gear.

Cisco Systems Inc. says it earned $2.2 billion, or 37 cents per share, in the fiscal third quarter that ended May 1. That's up from $1.3 billion, or 23 cents per share, a year ago.

Excluding one-time charges and the cost of stock-based compensation, the world's biggest maker of computer networking equipment earned 42 cents per share. Analysts expected 39 cents per share.

Revenue rose 27 percent to $10.4 billion, topping analysts' forecasts of $10.2 billion.

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