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China Boosts Cisco's Q3 Results

Cisco posted a solid set of Q3 results tonight, although strength in China and India was offset by weakness in U.S. sales.

Cisco reported Q3 revenues of $9.8 billion, up from $8.9 billion in the same period last year, and above analyst estimates of $9.75 billion.

On a GAAP basis, Ciscos reported earnings per share of 29 cents on net income of $1.8 billion, down from 30 cents and $1.9 billion in the same period last year.

Cisco’s non-GAAP earnings were 38 cents on net income of $2.3 billion, up from 34 cents and $2.1 billion in the third quarter of 2007. Analysts had estimated an EPS of 36 cents.

”This quarter was another solid quarter given the challenges we’re all witnessing – from a U.S. perspective the market did soften,” said Cisco CEO John Chambers, during a conference call earlier today. “[But] we continue to be optimistic about most of the global economies outside of the U.S – Asia Pacific got stronger.”

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