Cisco revenue in line, investors await CEO comments

Reuters

Network equipment maker Cisco Systems Inc on Wednesday reported fiscal fourth-quarter revenue in line with Wall Street expectations, helped by continued strength in its enterprise business.

Shares of the world's biggest network equipment maker fell 2 percent after hours, as investors waited for the company's latest forecasts and comments on its business later on Wednesday.

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Cisco Chief Executive John Chambers' commentary is closely watched by investors as Cisco is regarded as a strong indicator of the general health of the technology industry because of its broad customer base.

Cisco had a net profit of $2.3 billion, or 42 cents per share, in the quarter. That compared with a profit of $1.9 billion, or 36 cents per share, in the year-ago quarter.

Revenue rose 6 percent to $12.4 billion, matching analysts' expectations, according to Thomson Reuters I/B/E/S.

Excluding some items, the company reported profit of 52 cents per share, which was a penny better than analysts' average estimate.

The results were in line with the company's forecasts three months ago, based on what it called "encouraging" signs.