Networking giant #Cisco Systems (NASDAQ:CSCO) reported its fiscal first-quarter results after the market closed on Nov. 12. The numbers were solid, with Cisco beating analyst estimates for both revenue and earnings, while growth was driven by the core switching business, as well as faster-growing segments. However, a weak outlook for the second quarter, resulting from a slowdown in orders, overshadowed Cisco's results.
Cisco reported quarterly revenue of $12.7 billion, up 3.6% year over year and $30 million higher than analysts were expecting. Non-GAAP EPS jumped to $0.59, up 9.3% year over year and $0.03 better than the average analyst estimate. On a GAAP basis, Cisco reported earnings of $0.48 per share, up 37.1% year over year.
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