SAN JOSE, Calif. (AP) _ Cisco Systems Inc. (CSCO) on Wednesday reported fiscal first-quarter earnings of $2.93 billion.
The San Jose, California-based company said it had net income of 68 cents per share. Earnings, adjusted for one-time gains and costs, were 84 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The seller of routers, switches, software and services posted revenue of $13.16 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $13.08 billion.
For the current quarter ending in February, Cisco expects its per-share earnings to range from 75 cents to 77 cents.