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Cisco Jumps 7% After Hiking Dividend, Adding $25B to Buybacks

On the call, Cisco disclosed that its "infrastructure platforms" business, which contains its routing and switching products, and which makes up almost two thirds of revenue, saw sales rise by 2%, year over year, to $6.69 billion. The bigger areas of growth were in its "applications" business, up 6%, and security products, also up 6%. Order rates in the quarter were up 3% among enterprise customers, up 8% among government buyers, and up 14% among commercial customers, said Cisco, while its orders from telecom buyers continued to be under pressure, down 5%. The boost in buybacks brings total repurchases authorized to $31 billion, Cisco said.