Cisco Nails It, Sees Healing Economy

NEW YORK (TheStreet) -- Cisco (CSCO Quote) delivered a strong, target-beating report Wednesday and sees the beginning of an upswing that could help boost the tech sector.

The networking gearmaker posted adjusted earnings of 36 cents a share, down from 42 cents in the year-ago period but better than analysts' earnings target of 31 cents, according to Yahoo Finance.

Sales for the fiscal first quarter ended last month were $9 billion, down 13% from the $10.33 billion level last year. Analysts were looking for sales of $8.74 billion.