Cisco calms worries with solid quarter
Fiscal second-quarter earnings for the maker of networking gear beat Wall Street expectations.
Cisco Systems allayed concerns about its second-quarter results with earnings that topped expectations.
The networking giant reported fiscal second-quarter earnings of $1.5 billion, or 27 cents a share, on revenue of $10.4 billion. Non-GAAP earnings were 37 cents a share. Wall Street was expecting earnings of 35 cents a share.
As noted in a preview, analysts were expecting Cisco to rebuild its order backlog. Demand throughout the quarter looked solid. Indeed, Cisco CEO John Chambers said "the quarter played out as we expected."
Read more of "Cisco calms worries, posts solid second quarter" at ZDNet's Between the Lines.