SAN JOSE, Calif. (AP) _ Cisco Systems Inc. (CSCO) on Wednesday reported fiscal fourth-quarter earnings of $2.21 billion.
The San Jose, California-based company said it had net income of 51 cents per share. Earnings, adjusted for pretax expenses and stock option expense, came to 83 cents per share.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The seller of routers, switches, software and services posted revenue of $13.43 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $13.38 billion.
For the year, the company reported profit of $11.62 billion, or $2.61 per share. Revenue was reported as $51.9 billion.
For the current quarter ending in November, Cisco expects its per-share earnings to range from 80 cents to 82 cents.
Cisco shares have risen 17% since the beginning of the year, while the Standard & Poor's 500 index has increased 13%. In the final minutes of trading on Wednesday, shares hit $50.61, a rise of 15% in the last 12 months.