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Cisco reports better-than-expected earnings

Last Updated: Wednesday, November 4, 2009 | 4:48 PM ET

CBC News

Cisco Systems Inc., the world's biggest maker of computer networking equipment, reported better-than-expected quarterly earnings Wednesday of 36 cents a share on revenue of $9 billion US.

Analysts had expected 31 cents a share in the quarter, which covered the July-October period, and revenue of $8.74 billion.

Cisco three-month chartCisco three-month chart

The earnings are being closely watched as a gauge of whether the high-tech industry is in recovery mode.

San Francisco-based Cisco has announced three acquisitions in the last month, totaling more than $6 billion.

Cisco shares rose 68 cents, or close to three per cent, to $23.97 in after-hours trading.

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