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Cisco seems to have recovered from its spate of missed earnings and restructuring— the company turned in a solid quarter for the second quarter in a row.The company showed non-GAAP EPS of $0.43 on revenue of $11.26 billion. The street was expecting $0.39 and $11.02 billion, according to Yahoo Finance.
Earnings were down 7% from last year, but investors apparently expected worse. The stock rose more than 1% after hours, after falling almost 4% during the day.
The company remains one of the biggest cash hoarders in tech, with more than $44 billion on hand.