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Cisco Beats Estimates, Splits Stock

The networking giant's third-quarter revenue jumps to $3.1 billion from $2.2 billion a year earlier.

Cisco (CSCO) - Get Cisco Systems Inc. Report reported third-quarter earnings of 38 cents a diluted share, beating Wall Street's expectations by a penny, and set a 2-for-1 stock split.

The San Jose, Calif., networking giant reported that latest-quarter earnings rose to $646 million on a pro forma basis, excluding acquisition-related costs, from $484 million, or 30 cents a share, a year earlier. Revenue jumped 44% to $3.15 billion from $2.18 billion a year ago.

The stock split will be paid June 21 to shareholders of record May 24.

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