BUSINESS BRIEFING / EARNINGS
Times Wire Reports
Cisco Systems Inc. Chief Executive John Chambers said the company’s latest quarterly numbers reinforce his observation that recession-dampened orders are improving after passing a “tipping point” this summer.
First-quarter net income fell 19% to $1.8 billion, or 36 cents a share. That topped analysts’ expectation for 31 cents. Sales dropped 13% to $9 billion but also beat forecasts.
Cisco stock climbed 66 cents, or 2.8%, to $23.95 in extended trading Wednesday after the results were reported.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
