SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cisco Systems Inc. (CSCO) on Wednesday reported fiscal third-quarter net income of $1.89 billion.
On a per-share basis, the San Jose, California-based company said it had profit of 46 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 88 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The seller of routers, switches, software and services posted revenue of $12.7 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $12.49 billion.