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Wednesday May 11, 07:33
Cisco Systems 3Q profit rose 16%
(by Peter Van Bruggen)

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Cisco Systems 3Q profit rose 16% Cisco Systems reported on Tuesday that its fiscal third-quarter profit rose 16%.

Profit rose to $1.41 billion, or 21 cents a share, from $1.21 billion, or 17 cents a share, in the previous year. Excluding some items profit rose to 23 cents a share. Analysts were expecting EPS of 22 cents per share.

Revenue rose 10% to $6.19 billion from $5.62 billion. Analysts were forecasting revenue of $6.16 billion.

Profit margin fell to 66.8% from 66.9%.

Cisco reaffirmed its forecast for revenue growth of 12% to 13% ($6.45-$6.6 billion) for the total year. Analysts expect revenue of $6.5 billion.
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