Cisco Surges After Profit Exceeds Analysts’ Estimates
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Cisco Systems Inc., the biggest maker of networking equipment, rose the most in more than a year after reporting profit that topped estimates as businesses spent more to meet surging demand for data delivery via the Web.
Profit excluding some items was 51 cents a share, the San Jose, California-based company said in a statement yesterday, exceeding analysts’ average 49 cent projection, according to data compiled by Bloomberg. Cisco advanced 13 percent, for the biggest gain since August 2011.