Cisco Systems reported fourth-quarter earnings slightly above analysts' expectations and raised its long-term revenue target as more companies bought equipment to handle Web traffic.
The San Jose, Calif.-based company posted adjusted earnings of 36 cents a share, up from earnings of 30 cents a share reported in the year-ago quarter.
Sales rose 18% to $9.4 billion.
Analysts surveyed by Thomson predicted earnings of 35 cents a share on revenue of $9.3 billion.
"Cisco delivered another record quarter with great execution across the company," said CEO John Chambers, in a prepared statement.