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