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News Summary: Cisco Systems turns in solid quarter

Published on NewsOK Modified: February 13, 2013 at 6:09 pm •  Published: February 13, 2013

SOLID PERFORMANCE: Cisco System Inc.'s latest quarterly earnings rose 44 percent to exceed analyst forecasts. The results received a big boost from tax-benefits and credits, but they still would have been better than the previous year, even without those one-time gains.

BROADER IMPLICATIONS: Investors view Cisco's numbers as a good bellwether for the state of the technology market because its computer networking equipment and services are sold to major companies and government agencies throughout the world.

READING THE TEA LEAVES: Cisco CEO John Chambers says the mood of the company's customers has given him a sense of "cautious optimism" about the economy.