Cisco Beats Estimates as Price Cuts Lure More Customers
This article is for subscribers only.
Cisco Systems Inc., the biggest maker of computer-networking equipment, reported quarterly profit and sales that topped analysts’ estimates as job cuts kept costs in check and price reductions attracted customers.
Profit excluding some costs was 47 cents a share in the period ended July 28, Cisco said in a statement yesterday. That compares with the average estimate of 46 cents, according to data compiled by Bloomberg. Revenue rose 4.4 percent to $11.7 billion, compared with analysts’ prediction for $11.6 billion.