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Cisco rises in after hours as earnings beat the street

Published: 21:23 15 May 2013 BST

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Cisco (NASDAQ: CSCO) is surging ahead more than four per cent in after hours trading after its earnings results beat the street.

Cisco says net income rose 14 per cent to $2.5 billion or $0.46 per share in the third quarter. After making adjustments for one-time items, earnings came to $2.7 billion or $0.51 per share, three cents per share ahead of the same period last year and two cents more than the mean analyst forecast.

The San Jose, California-based tech company's sales increased 5.4 per cent to $12.2 billion from $11.6 billion in the same prior-year quarter.

What will likely move the stock even more is Cisco's guidance, which will be outlined during the conference call at 4:30 pm ET. 

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