Cisco profit fell 5.4 per cent in the third
quarter on acquisition expenses, the company said Tuesday.
But the world's largest maker of the routers and switches that run the internet
beat Wall Street estimates and saw its share price surge in after-hours
trading.
Cisco said that net income declined to 1.77 billion dollars, or 29 cents a
share, from 1.87 billion dollars, or 30 cents. Revenue rose 10 per cent to 9.79
billion dollars in the period ended April 26, beating analyst estimates of 9.75
billion dollars.
"Our ability to deliver solid financial results, excellent cash flow and a
strong balance sheet during a quarter of somewhat uncertain macro-economic
conditions illustrates the power of our business model," Cisco chief
financial officer Frank Calderoni said in a statement.
Cisco shares rose 67 cents, or 2.5 per cent, to 27 dollars in extended trading,
dpa reported.
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