• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Top Trading Strategy
No Result
View All Result
Home Breaking News

Cisco rises on sunny outlook for the rest of its fiscal year

by
February 16, 2022
in Breaking News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Related Posts

SoftBank’s Vision Fund posts fourth straight quarter of losses as tech slump hits Japanese giant

Market veteran is still bullish on tech despite earnings upset, and reveals his other top picks

French bank BNP Paribas reports bumper profit for 2022, boosts stock purchase plan

BP posts record 2022 earnings to join Big Oil profit bonanza

In this article

CSCO

Cisco CEO Chuck Robbins
Pradeep Gaur | Mint | Getty Images

Cisco shares rose as much as 5% in extended trading on Wednesday after the enterprise software and hardware maker disclosed fiscal second-quarter earnings that surpassed analysts’ expectations.

Here’s how the company did:

Earnings: 84 cents per share, adjusted, vs. 81 cents per share as expected by analysts, according to Refinitiv.Revenue: $12.70 billion, vs. $12.65 billion as expected by analysts, according to Refinitiv.

Revenue increased by 6% year over year in the quarter, which ended Jan. 29, according to a statement. In the previous quarter revenue had risen 8%.

Cisco’s Secure, Agile Networks segment, which includes data-center networking switches, generated $5.90 billion in revenue. That was up 7% and more than the $5.78 billion sum that analysts polled by StreetAccount had predicted.

The company’s Internet for the Future segment, which contains routed optical networking, public 5G, silicon and optics products, contributed $1.32 billion, up 42% and just above the StreetAccount consensus of $1.30 billion.

Cisco’s Hybrid Work segment that features Webex collaboration offerings posted $1.07 billion in revenue, down 9% and slightly lower than the $1.10 billion StreetAccount consensus.

With respect to guidance, Cisco called for 85 cents to 87 cents in adjusted fiscal third-quarter earnings per share on 3% to 5% revenue growth. Analysts polled by Refinitiv had expected 86 cents in adjusted earnings per share and $13.25 billion in revenue, which implies 3.5% growth.

For the 2022 fiscal year, Cisco said it sees $3.41 to $3.46 in adjusted earnings per share and 5.5% to 6.5% revenue growth. Analysts polled by Refinitiv had been looking for adjusted earnings of $3.42 per share and $52.71 billion in revenue, or 5.8% growth.

Last week news outlets reported that Cisco had made a bid for data-analytics software company Splunk; both companies declined to comment.

Shares of Cisco have declined 14% since the start of 2022, while the S&P 500 index has fallen roughly 6% over the same period.

Executives will discuss the results with analysts on a conference call starting at 4:30 p.m. ET.

This is breaking news. Please check back for updates.

WATCH: Shares of Cisco up 12% since December 1st

Next Post

QuantumScape stock falls after EV battery maker's Q4 loss

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

Popular Posts

Breaking News

SoftBank’s Vision Fund posts fourth straight quarter of losses as tech slump hits Japanese giant

by
February 7, 2023
0

In this article 9984.T-JP Follow your favorite stocksCREATE FREE ACCOUNT SoftBank's Vision Fund, the brainchild of the company's founder Masayoshi...

Read more

SoftBank’s Vision Fund posts fourth straight quarter of losses as tech slump hits Japanese giant

Market veteran is still bullish on tech despite earnings upset, and reveals his other top picks

French bank BNP Paribas reports bumper profit for 2022, boosts stock purchase plan

BP posts record 2022 earnings to join Big Oil profit bonanza

Buying Nvidia Stock on the Dips: Here’s the Level to Watch

TopStepTrader Trading Combine: The Steps You Need to Know About

Load More

All rights reserved by www.toptradingstrategy.net

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.