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 SAN JOSE, Calif. (AP) - Shares of Cisco Systems Inc. rose more than 7 percent Wednesday after the networking gear provider posted quarterly earnings-per-share that topped Wall Street's expectations by a penny.
Sales rose on strong business orders while stock-option expenses caused Cisco's net profits for its fiscal second quarter to slip slightly from the previous year.
The self-proclaimed "solid" results by the bellwether tech company injected a welcome boost in the tech sector on Tuesday. With just under 200 million shares trading Wednesday, Cisco shares surged $1.31, or 7.2 percent, to close at $19.40 on the Nasdaq Stock Market.
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