Cisco Systems reported a stronger-than-expected rise in quarterly profit on Tuesday, as more companies invested in advanced communications equipment to handle growing Internet traffic.
Cisco, which makes routers, switches and other networking equipment, said its fiscal fourth-quarter profit rose to $1.9 billion, or 31 cents a share, from $1.5 billion, or 25 cents a share, in the same period a year earlier. That's a 25 percent increase. Earnings, excluding items, rose to 36 cents from 30 cents a year earlier and beat the average analyst estimate by a penny, according to Reuters Estimates.
Revenue rose 18.1 percent to $9.4 billion. Analysts on average expected revenue of $9.275 billion.
In May, Cisco Chief Executive John Chambers forecast fourth-quarter revenue growth in a range of 15 percent to 16 percent.
Cisco shares eased slightly in after-hours trading after closing 19 cents higher at $29.69. They have risen over 70 percent from a year earlier.
