Networking giant Cisco Systems today reported a better-than-expected fiscal second quarter and said its renewed focus is paying off.
Cisco reported fiscal second-quarter earnings of $2.2 billion, or 40 cents a share, on revenue of $11.5 billion. Non-GAAP earnings were 47 cents a share.
Wall Street was looking for earnings of 43 cents a share on revenue of $11.23 billion.
In a statement, Cisco CEO John Chambers was upbeat about the company’s execution. “Our operational focus continues to yield positive results — we hit our billion dollar expense reduction a quarter early — and our ongoing innovation enables our customers to solve their critical business needs. You will continue to see a focused and aggressive Cisco,” said Chambers.
By the numbers:
- Cisco ended the quarter with $46.7 billion in cash and cash equivalents.
- The company generated $3.1 billion in cash flow in the second quarter.
- Days sales outstanding for the second quarter were 31 days.
- Inventory turns were 11.1 in the second quarter, up from 10.6 in the same quarter a year ago.
This story originally appeared at ZDNet's Between the Lines under the headline "Cisco: Focus pays off in Q2."