Cisco Soars After Quarterly Revenue Tops Analysts’ Estimates
John Chambers, chairman and chief executive officer of Cisco Systems Inc.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Cisco Systems Inc. soared 9.4 percent after reporting quarterly profit and sales that topped estimates, extending a recovery that began last year.
Fiscal second-quarter sales rose 7 percent to $11.9 billion, and profit excluding some items was 53 cents a share, the company said in a statement Wednesday. That topped analysts’ average projection for profit of 51 cents on sales of $11.8 billion. Revenue is also on track to match or exceed estimates in the period ending in April, Cisco said.