Cisco’s Profit Beats Estimates as Chambers Reins in Costs
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Cisco Systems Inc., the world’s largest maker of networking equipment, reported profit that beat analysts’ estimates as the company reined in expenses while refocusing on its high-margin routers and switches.
Excluding some costs, profit was 40 cents a share in the fiscal fourth quarter, Cisco said today in a statement. Analysts had predicted 38 cents on average, according to Bloomberg data. Sales rose 3.3 percent to $11.2 billion in the period, which ended July 30, compared with an estimate of $11 billion. Shares jumped in late trading.