Reuters: Technology News: Cisco quarterly profit beats Street, shares rise

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Cisco quarterly profit beats Street, shares rise May 15th 2013, 20:35 Tweet Share this Email Print Related News UPDATE 4-Macy's profit, sales rise even as some shoppers pull back 4:23pm EDT Dell to report earnings five days early, on May 16 Tue, May 14 2013 Thu, May 9 2013 News Corp results beat estimates, spin-off on track Wed, May 8 2013 Activision warns of rocky second half, shares slide Wed, May 8 2013 A sign marking a Cisco office is pictured in San Diego, California November 12, 2012. Credit: Reuters/Mike Blake NEW YORK | Wed May 15, 2013 4:35pm EDT NEW YORK (Reuters) - Cisco Systems Inc posted a higher than expected quarterly profit, suggesting that technology spending could be picking up for the network equipment maker's customers. Cisco shares rose about 5 percent after Chief Executive John Chambers said in a statement that the company was seeing good signs in a "slow, but steady economic environment." "We are starting to see some good signs in the U.S. and other parts of the world which are encouraging," Chambers said. 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. Excluding unusual items, earnings per share came in at 51 cents compared with Wall Street expectations for 49 cents according to Thomson Reuters I/B/E/S. 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. Cisco shares rose to $22.27 in extended trading after closing at $21.21 on Nasdaq. (Reporting by Sinead Carew; Editing by Richard Chang) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions