SAN JOSE, Calif. (AP) _ Cisco Systems Inc. (CSCO) on Wednesday reported fiscal third-quarter earnings of $2.69 billion.
The San Jose, California-based company said it had net income of 56 cents per share. Earnings, adjusted for one-time gains and costs, were 66 cents per share.
The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The seller of routers, switches, software and services posted revenue of $12.46 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $12.42 billion.
For the current quarter ending in July, Cisco expects its per-share earnings to range from 68 cents to 70 cents.
Cisco shares have increased 18 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 2 percent. In the final minutes of trading on Wednesday, shares hit $45.13, a rise of 32 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSCO at https://www.zacks.com/ap/CSCO