Cisco Systems Inc posted an increase in quarterly revenue that was slightly ahead of Wall Street expectations, suggesting that the network equipment maker may be seeing signs of improvement in technology spending.
Profit for the fiscal third quarter ended on April 27 grew to $2.5 billion, or 46 cents per share, from $2.17 billion, or 40 cents per share, in the year-ago quarter. Revenue rose more than 5 percent to $12.2 billion from $11.6 billion and compared with Wall Street expectations for $12.18 billion according to Thomson Reuters I/B/E/S.
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(Reporting by Sinead Carew; Editing by Richard Chang)