Cisco sees 'dramatic' sales improvement in 2Q

Feb 03, 2010
In this photo made Nov. 4, 2009, a Cisco Systems IP phone is seen on display at Cisco headquarters in San Jose, Calif. Cisco Systems Inc., the world's largest maker of computer networking equipment, reports its fiscal second-quarter results after the stock market closes Wednesday, Feb. 3, 2010. (AP Photo/Paul Sakuma)

(AP) -- Cisco blew past its own forecast for the latest quarter, reporting its first sales increase in a year as it leaves the recession behind.

CEO John Chambers said Wednesday that improvement was dramatic "across the board" and provides "a clear indication that we are entering the second phase of the economic recovery."

Inc. said it earned $1.9 billion, or 32 cents per share. That's up 23 percent from $1.5 billion, or 26 cents per share, a year ago.

Excluding one-time charges, the world's biggest maker of earned 40 cents per share. Analysts expected 35 cents per share.

Revenue rose 8 percent to $9.8 billion, topping analysts' forecasts of $9.4 billion for the fiscal second quarter that ended Jan. 23.

Shares of Cisco, which is based in San Jose, Calif., rose 3 cents to $23.10 in extended trading. Before the release of results, shares closed up 5 cents at $23.07.

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