Networking equipment maker Cisco Systems, Inc. (
) late Wednesday posted much better-than-expected fiscal first
quarter earnings, sending its shares soaring in aftermarket
The San Jose, CA-based company reported fiscal first quarter net
income of $1.8 billion, or 33 cents per share, compared with $1.9
billion, or 34 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 43 cents per share.
Revenue rose nearly 5% from last year to $11.26 billion.
On average, Wall Street analysts expected a smaller profit of 40
cents per share, on lower revenue of $11 billion.
For its current fiscal second quarter, Cisco projected adjusted
earnings of 42 to 44 cents per share, on implied revenue of $11.13
billion to $11.2 billion. Analysts are looking for second quarter
profits of 42 cents per share on $11.14 billion in revenue.
Cisco shares rose $1.07, or +6%, in premarket trading
The Bottom Line
Shares of Cisco Systems (
) have a 1.36% dividend yield, based on last night's closing stock
price of $17.61. The stock has technical support in the $15-$16
price area. If the shares can firm up, we see overhead resistance
around the $18.50-$20 price levels.
Cisco Systems, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.0 out of 5 stars.
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