Cisco 3Q Profit Surges 34 Percent

By JORDAN ROBERTSON

SAN FRANCISCO – Cisco Systems Inc.’s third quarter profit surged 34 percent as widespread networking upgrades continued to fuel the company’s robust growth.

Still, the report disappointed investors hoping for a bigger beat from the tech bellwether. Its stock, which had climbed 8 percent in the last month, fell in after-hours trading.

Net income for the three months ended April 28 was $1.87 billion, or 30 cents per share, compared with $1.4 billion during the same period last year.

Excluding one-time charges, San Jose-based Cisco earned 34 cents a share, a penny higher than analysts surveyed by Thomson Financial were expecting.

Cisco, the world’s largest networking equipment maker, rang up $8.87 in billion in sales during the quarter, higher than the $8.76 billion analysts were anticipating. The company’s sales totaled $7.32 billiMacro running ……on a year ago.

"Our success is based on the ability to foresee market transitions, which has enabled us to deliver the right products for today’s market opportunities and prepares us to take advantage of new opportunities in the future," Cisco CEO John Chambers said in a statement.

Cisco shares finished regular-session trading up 55 cents, or nearly 2 percent, to $28.36. In after-hours trading, the stock fell about 3 percent.