Cisco shares up 7.5% amid forecast that Q3 sales could grow 4%

San Francisco

CISCO Systems Inc, whose equipment is the backbone of the Internet, predicted sales that may beat some analysts' estimates, countering concern that corporate spending is falling off amid fears that the global economy is weakening.

The company said third-quarter sales may grow as much as 4 per cent from the preceding period, sending shares up 7.5 per cent to US$24.19 in extended trading on Wednesday following the announcement.