Cisco Systems has reported strong growth in revenue and profit for a fiscal third quarter in which it made several acquisitions to help power Web 2.0 developments
The dominant network vendor's revenue rose to US$8.9 billion for the quarter, up 21 percent from the same quarter a year earlier. Net income grew almost 34 percent to $1.9 billion, for earnings per share of $0.30, on a GAAP (generally accepted accounting principles) basis.
During the quarter, which ended April 28, Cisco acquired online collaboration vendor Webex Communications for $3.2 billion and also bought social networking technology developer Five Across and some assets of Utah Street Networks, another social networking company.
