- Net income higher than in the previous year
- Revenue rose 4%
- Shares 3.5% up
Shares of Cisco Systems, Inc (NASDAQ: CSCO) trade 3.5% higher in a premarket trading session after the networking equipment giant reported a 4% rise in revenue to $12.96 billion in the third quarter ended April 27. The market analysts expected revenue of $12.89 billion.
Net income came in at $3.04 billion from a $2.69 billion a year earlier.
“The results continue to be consistent. They were pretty much in line which is a relief to investors given all the negative macro news,” Elazar Advisors analyst Chaim Siegel said.