Cisco Systems again beat analyst forecasts, reporting Tuesday that fiscal second-quarter profit rose 49 percent as the world's biggest maker of gear that powers the Internet sold more equipment to telecommunications companies.
The company also set a 2-for-1 stock split, its ninth since first selling shares to the public in February 1990.
The San Jose, California-based company said that for the period ended 29 January, it had net income of $825 million, or 23 cents per share, an increase from $282 million, or 8 cents per share, a year ago. Sales rose 53 percent to $4.35 billion from $2.85 billion.
Excluding charges and other items, Cisco (CSCO) had a profit of $906 million, or 25 cents per share, compared with $609 million, or 17 cents per share, a year ago. On that basis, Cisco beat analyst forecasts of 24 cents a share, according to First Call/Thomson Financial, which tracks earnings estimate data.
Shares of Cisco, which is now the third-most highly valued company in the world behind Microsoft Corp. and General Electric Co., rose 5/8 to close at 125-13/16 in trading on the Nasdaq.
