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Cisco Pulls Back Off Best Levels But Remains Firmly Positive

Shares of Cisco Systems, Inc, (CSCO) have pulled back off their best levels of the day but remain firmly positive in afternoon trading on Thursday. After jumping as much as 6.2 percent, Cisco is currently up by 4.6 percent.

Cisco gapped open sharply higher after the networking giant reported fiscal first quarter results that exceeded analyst estimates on both the top and bottom lines.

The company reported first quarter adjusted earnings of $0.75 per share on revenues of $13.07 billion, while analysts had expected earnings of $0.72 per share on revenues of $12.87 billion.

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