Cisco Systems posted a double-digit rise in revenue in its fiscal first quarter ended Oct. 27 with an even bigger gain in profit.
First-quarter revenue was $9.6 billion, up nearly 17 percent from $8.2 billion in last year's first quarter. Net income rose more than 37 percent to $2.2 billion from $1.6 billion a year earlier. Earnings per share were $0.35, up from $0.26 in last year's first quarter.
In a statement, Chairman and CEO John Chambers cited "balanced execution across the company" in the revenue and profit rise. Chambers sees a strong future for Cisco with a second phase of Internet investment driven by multimedia and Web 2.0 technologies. As the biggest maker of routers for the Internet core and enterprises, the San Jose, California, company wins when IP traffic grows.
