Cisco results show economy is in recovery
Published: 05 Nov 2009 09:35 GMT
Cisco reported fiscal first-quarter earnings that beat expectations with good sequential growth, giving hope that the ailing economy is on the upswing.
The network equipment maker on Wednesday reported that fiscal first-quarter profits and revenue that were down from the same quarter a year ago but up from the previous quarter.
Cisco reported a quarterly profit of $1.8bn (£1bn), or 36 cents a share, compared with a profit of $2.2bn, or 42 cents a share, for the same quarter a year ago. Revenue for the first fiscal quarter in 2009 was $9bn, down from $10.3bn during the same quarter a year prior.
For the full story, see Cisco results show economy is in recovery on CNET News.
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