CHICAGO-Cisco Systems Inc. posted a higher-than-expected profit in its fourth-quarter results, with a net income of $772 million, or 10 cents per share.
The company’s revenue of $4.83 billion did not, however, hold up compared with $4.8 billion in the previous quarter.
Bucking the trend in the economy, the networking giant said it will expand its share buyback program to include $8 billion in contrast to $3 billion previously planned.
The upbeat result triggered increases in the company’s share value, as well as others, although prices had begun to drop at press time.
