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Cisco makes ticks higher on result beat

Cisco Systems Inc. CSCO, -1.75% shares advanced during the extended session Wednesday after network giant, Wall Street peaked estimates for…

Cisco Systems Inc.

CSCO, -1.75%

shares advanced during the extended session Wednesday after network giant, Wall Street peaked estimates for the quarter. Cisco shares rose 1.3% after hours, after a 1.8% drop in closing the regular session of $ 44.33. The company reported the first quarter profit of $ 3.55 billion, or 77 cents per share, compared to $ 2.39 billion, or 48 cents per share, for the period since. Adjusted earnings were 75 cents per share. Revenue increased to $ 13.07 billion from $ 12.14 billion for the quarter. Analysts investigated by FactSet had forecasted 72 cents per share on a turnover of $ 1

2.86 billion. In the second quarter, Cisco expects adjusted earnings from 71 cents to 73 cents per share of 5 percent to 7 percent in revenue growth from the previous year, or $ 12.48 billion to $ 12.72 billion, while analysts have forecasted 72 cents per share on a revenue of $ 12.54 billion. Cisco said its outlook includes the divestment of its Service Provider Video Software Solutions device, which may not have been included in some analysts estimates.

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