Cisco Is Back: Beats Expectations And Stock Jumps

John Chambers Cisco

Photo: Cisco

Cisco reported fiscal second-quarter earnings of 47 cents a share on revenue of $11.5 billion. Both figures exceeded the forecasts that Wall Street analysts were expecting.Analysts were expecting 43 cents and $11.23 billion. It also reported net income of $2.2 billion (GAAP).

Its stock is up about 4% in after hours trading.

CEO John Chambers also touted that the company completed its promised billion cuts in expenses and hit the goal “a quarter early,” he said in the company’s press release.

Cisco also increased its dividend to 8 cents per share. It paid 6 cents per share in its last quarter.

Chamber said on the company’s conference call today that it expects to grow its next quarter’s revenue by 5-7% over the year ago quarter.

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