Cisco Climbs After Chambers Turnaround Plan Lifts Profit
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Cisco Systems Inc., the world’s largest maker of networking equipment, rose the most in three months after Chief Executive Officer John Chambers showed he’s making progress on a turnaround plan.
Excluding some costs, profit climbed to 43 cents a share in the fiscal first quarter ended Oct. 29, the company said yesterday in a statement. Analysts on average had predicted 39 cents, according to Bloomberg data. Cisco also topped projections with its second-quarter forecast.