NEW YORK (AP) — Cisco grew its earnings and revenue in the latest quarter as demand for its computer networking equipment grew.
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.
Revenue rose 6 percent to $12.42 billion from $11.69 billion.
FactSet says analysts expected revenue of $12.41 billion.
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.