Cisco shows steady earnings progress as all of its businesses grow

Cisco Systems Inc. comfortably beat fiscal first-quarter expectations today thanks to higher customer spending on applications and cybersecurity tools.

The networking giant posted earnings before certain costs such as stock compensation of 75 cents per share. Revenue rose 8 percent from a year ago, to $13.1 billion. Wall Street was hoping for a profit of just 72 cents per share on revenue of $12.9 billion.

The strong quarter was driven by solid growth in all of Cisco’s product categories, customer segments and geographies. Cisco’s largest business segment, Infrastructure Platforms, which includes hardware such as data center switches and routers, pulled in $7.64 billion in revenue, ahead of the analyst consensus of $7.4 billion and up 9 percent from one year ago.

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