Cisco Systems Inc. (NASDAQ: CSCO) late Wednesday reported that its fiscal third-quarter profit dropped to $1.8 billion, or 33 cents a share, from a profit of $2.2 billion, or 37 cents a share, in the year-ago quarter. On an adjusted basis, the company earned 42 cents a share in the latest quarter. Revenue rose to $10.9 billion from $10.4 billion. Adjusted income was 42 cents a share.
Cash flows from operations were $3.0 billion for the third quarter of fiscal 2011, compared with $2.6 billion for the second quarter of fiscal 2011, and compared with $3.0 billion for the third quarter of fiscal 2010.
Cisco shares rallied more than 3% in Wednesday's after-hours trading.
Cisco shares rallied more than 3% in Wednesday's after-hours trading.
Full Disclosure: None.
