Cisco Systems, Inc. ( CSCO ) is a worldwide leader in networking and internet solutions. Cisco's Internet Protocol-based networking solutions are the foundation of many aspects of the internet and most corporate, education, and government networks around the world. Cisco provides the broadest line of solutions for transporting data, voice and video within buildings, across campuses, or around the world.
Recent successful ventures include its "Internet of Everything" campaign, an acquisition of cyber-security firm Sourcefire, and a cloud-based service called the Intercloud that connects private, public, and hybrid clouds.
Investors should also note the recent earnings estimate revisions for CSCO, as the consensus estimate has stayed steady. Fortunately, CSCO has decent history in earnings season, as the company has beaten estimates in the last four quarters, making for an average surprise of 3.4%
Currently, Cisco Systems, Inc has a Zacks Rank #3 (Hold), but that could definitely change following their earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
CSCO beat on earnings. Our consensus earnings estimate called for EPS of $0.45/share, and the company reported EPS of $0.50 instead. Investors should note that these figures take out stock option expenses and are before non-recurring items.
CSCO reported revenues of $11.9 billion. This extends slightly above our consensus estimate of $11.8 billion.
CSCO shares were down 2.04% ahead of the report, but are up 5.2% now following the release. Clearly, the initial reaction to the release is favorable.
Check back later for our full write up on this CSCO earnings report later!
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