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.