NEW YORK (AP) -- Cisco's earnings and revenue grew in the latest quarter as demand for its computer networking equipment increased.
Cisco Systems Inc. earned $2.23 billion, or 42 cents per share, in the three months that ended on July 27. That's up from $1.92 billion, or 36 cents per share, a year earlier.
Adjusted earnings were 52 cents per share in the latest quarter, squeaking past Wall Street's expectations by a penny. This figure excludes charges stemming from a patent settlement with TiVo and other one-time items.
Revenue rose 6 percent to $12.42 billion from $11.69 billion.
Analysts, on average, had expected revenue of $12.41 billion, according to a poll by FactSet.
Cisco's performance is widely regarded as a bellwether for the technology industry. That's because the San Jose, California, company cuts a broad swath, selling routers, switches, software and services to corporate customers and government agencies.
"Now, more than ever, our customers and our partners want Cisco's help navigating the inconsistent global landscape successfully," CEO John Chambers said in a statement.
The company's fell $1.03, or 3.9 percent, to $25.34 in extended trading after the results were released. The stock closed up 6 cents at $26.38 in the day's regular trading session.
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