Cisco posts lower net profit for 2nd quarter

CHICAGO: Cisco Systems Inc, the world’s largest maker of equipment that directs Internet traffic, has posted a lower quarterly net profit, although sales rose more than expected as corporate customers boosted technology spending. 

Going forward, the company forecast sales in the current quarter, its fiscal third, would rise by as much as 3%. However, Cisco shares, which have seen a decent run-up this year, fell 4% in after-hours trade on Tuesday as investors were hoping for even more.