Cisco Systems reported solid revenue growth in the quarter ended 25 October, while profits were in line with analysts? expectations.
Sluggish sales in Asia, caused by the economic turmoil in the region, were compensated by growth in the US, the UK and the Nordic countries.
Revenues were $1.87 million, up 30 per cent from last year?s figure. Net income increased by 86 per cent over the year ago period, to $337 million, after a charge of $127 million for the purchase of Dagaz Technologies. On Tuesday, Cisco?s board authorised a three-for-two stock split which is to be effective on 16 December. Cisco shares opened at $86.625 on Wednesday, up from the previous day?s $83.25 closing price.
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