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Technology / AI and automation

COMPANY RESULT: CISCO SYSTEMS INC

Cisco Systems Inc reported third-quarter net income up 54% at $378.3m on revenue up 52% at $1.65bn. For the year-to-date, net income increased 41% at $897.7m on revenue up 67% at $4.68bn. Earnings per share rose 49% to $0.55 for the quarter, and 36% to $1.31 for the nine months. Results for the quarter include a pretax gain of $32.3m from the sale of a minority stock investment. Results for the year-to-date include a writeoff of $217.8m for acquired research and development in addition to the gain.

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CBR Staff Writer

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