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Cisco Reports Strong Growth

Cisco beat Wall Street expectations Wednesday by reporting its ninth consecutive quarter of record revenue. The company reported sales of $12.2 billion for the quarter, up 5.4 percent compared with the same quarter last year.

Cisco CEO John Chambers (pictured) cited steady growth in the U.S., which saw revenue grow 7 percent to $7.1 billion. The company also saw upticks in U.S. commercial revenue, enterprise revenue, solution provider revenue and public sector business.

"This balanced approach to growth is a positive signal for growth going forward," Chambers said.