Cisco shares fall despite profit surge

Shares of Cisco Systems Inc. fell Thursday, a day after the technology giant posted a 63% surge in profit, but issued a forecast that analysts considered cautious, even unimpressive.

Shares of Cisco were down more than 3% to $25.79, a day after the company reported results for what Chief Executive John Chambers portrayed as the strongest quarter in the Silicon Valley giant's history.

Analysts said Cisco's results affirmed the view of a recovery in corporate technology spending, and that the San Jose, Calif.-based behemoth was at the forefront of riding that demand wave.

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- Posted: 2010-05-13 10:59:51

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