The biggest maker of computer networking and Internet gear said net income soared 28 percent from the year-ago period to $1.6 billion in the first quarter, or 26 cents on a per share basis.

Earnings, excluding certain items, rose to 31 cents a share. Analysts surveyed by Thomson First Call had been expecting earnings of 29 cents a share for the fiscal first quarter ended Oct. 28.

"It was better than expected and guidance was strong," said Paras Bhargava, an analyst at BMO Capital Markets."Everything seems to be suggesting they'll be able to keep up the momentum for the full year and maybe even longer."

Revenue climbed 25 percent to $8.2 billion during the quarter, exceeding consensus estimates for revenue of $7.9 billion.

Cisco said revenue from Scientific Atlanta contributed $584 million in sales during the quarter. Cisco bought the cable set-top box maker earlier this year as part of its push into home networking.

Looking ahead, San Jose, Calif.-based Cisco said it expects revenue to grow 24 to 25 percent in the current period, exceeding analysts' forecast for sales to climb 21 percent to $8 billion during the period.

By: DocMemory
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