Cisco's fiscal 2nd-quarter earnings climb 44 per cent as technology spending picks up | iNFOnews

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Cisco's fiscal 2nd-quarter earnings climb 44 per cent as technology spending picks up

FILE - In this Aug. 9, 2010 file photo, a pedestrian walks by a Cisco sign outside of the office headquarters in San Jose, Calif. Cisco Systems Inc. releases financial results for the last quarter of 2012 on Wednesday, Feb. 13, 2013, after the market closes. (AP Photo/Marcio Jose Sanchez, File)
February 13, 2013 - 1:21 PM

SAN FRANCISCO - Cisco's latest quarterly report is providing further evidence that spending on technology gear is picking up despite persisting concerns about a still-shaky economy.

The earnings announced Wednesday exceeded analyst projections for the world's largest maker of computer networking equipment.

Cisco Systems Inc.'s quarterly performances and forecasts are widely regarded as a way to assess the state of the technology industry.

That's because the San Jose, Calif., company cuts a broad swath while selling its routers, switches, software and services to corporate customers and government agencies around the world.

Cisco earned $3.1 billion, or 59 cents per share, during a three-month span ending Jan. 26. That represented a 44 per cent increase from $2.2 billion, or 40 cents per share, in the previous year.

Revenue edged up 5 per cent to $12.1 billion.

News from © The Associated Press, 2013
The Associated Press

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