Cisco says its fiscal third-quarter profit declined, but the networking gear maker’s adjusted earnings and revenue topped Wall Street’s expectations.
For the three months ended April 26, San Jose, Calif.-based Cisco Systems Inc. reports income of $1.77 billion, or 29 cents per share, down 5 percent from $1.87 billion, or 30 cents per share, in the same period a year earlier.
Adjusted earnings of 38 cents per share surpassed Wall Street’s expectations a profit of 36 cents per share, according to a Thomson Financial poll.
Cisco says its revenue rose 10 percent to $9.79 billion from $8.87 billion, beating analyst projections for $9.75 billion.
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