Adjusted profit for the biggest maker of networking equipment came in at 52 cents a share and revenues were up 6 percent to $12.4 billion. Analysts expected earnings of 51 cents a share on revenues of $12.4 billion. Net income for the company was up 18 percent to $2.27 billion, or 42 cents a share versus 1.92 billion, or 36 cents, last year.
Product revenue for the company improved 6.4 percent to $9.74 billion beating the Street’s estimate of 9.7 billion. Service sales was up 5.5 percent to $2.68 billion but was still below the consensus estimate of $2.73 billion.