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Cisco Surges to Highest in 17 Years on Bullish Earnings Outlook

  • Revenue rose for first time in eight quarters to $11.9 billion
  • Tax-related charge led to quarterly net loss of $1.78 a share
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Cisco CEO Chuck Robbins says tax reform helps improve programs for employees.(Source: Bloomberg)

Cisco Systems Inc. surged to a 17-year high in early trading Thursday after the maker of machinery that carries most of the world’s internet data gave a bullish forecast for sales and profit.

“We’ve really re-energized the core networking business,” Chief Executive Officer Chuck Robbins said in an interview. “Clearly the economy is encouraging. There’s a lot of optimism.”