Cisco just reported its first quarter earnings and we’re covering it live.
Earnings per share came in at 53 cents. That’s a beat. Revenue at $US12.1 billion. That’s a miss.
Analysts expected a good quarter: 51 cents EPS on $US12.35 billion in revenue (up from 48 cents EPS on $US11.88 billion), according to Yahoo Finance.
Gross margin was 63% and that’s a beat, too. Analysts estimated 61.9%. Cisco also announced it will boost its share buyback program by $US15 billion.
The stock is falling slightly in after hours trading.