Cisco Systems posted gains in both profit and revenue on Wednesday for its fiscal first quarter that ended Oct. 30, despite what it called "a challenging economic environment."
Cisco's revenue hit US$10.75 billion, up about 19 percent from its $9.02 billion a year earlier. Net income increased by 13 percent, reaching $1.9 billion or $0.34 per share.
Not counting certain one-time items, Cisco earned $0.42 per share, surpassing the consensus forecast of $0.40 per share by analysts surveyed by Thomson Reuters.
(More to come.)