Cisco Systems Inc posted an increase in quarterly revenue that was slightly ahead of Wall Street expectations, suggesting that the network equipment maker may be seeing signs of improvement in technology spending.
Profit for the fiscal third quarter ended on April 27 grew to $2.5 billion U.S., or 46 cents per share, from $2.17 billion U.S., or 40 cents per share, in the year-ago quarter. Revenue rose more than 5% to $12.2 billion from $11.6 billion U.S. and compared with Wall Street expectations for $12.18 billion U.S. according to Thomson Reuters I/B/E/S.
Cisco shares ended Wednesday's trading at $21.21 U.S., down six cents from Tuesday, in a 52-week range of $14.96 to $21.98 U.S.
