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Cisco Systems Inc.
CSCO, -0.81%
Shares rose on Wednesday during the plenary session after the quarterly results of the network giant surpbaded Wall Street's estimates for the quarter. Cisco action rose 2.8% after normal business hours, after a 0.8% decline to close the regular session at $ 47.50. The company announced a net profit for the second fiscal quarter of $ 2.82 billion, or 63 cents per share, compared with a loss of $ 8.78 billion, or $ 1.78 per share, over the same period. period of the previous fiscal year. Adjusted earnings were 73 cents per share. Revenues reached $ 12.45 billion, up from $ 11.89 billion in the same quarter of the previous year. Analysts surveyed by FactSet were expecting earnings per share of 72 cents per share and a turnover of $ 12.42 billion. For the third quarter, Cisco expects earnings per share of 76 to 78 cents versus a 4% to 6% revenue growth over the prior year, either an increase from $ 12.96 to $ 13.21 billion. Analysts estimate earnings per share at 76 cents per share on a $ 12.84 billion business figure. In addition, Cisco announced that its board of directors had authorized a quarterly dividend increase of 6% to 35 cents per share and a $ 15 billion increase in its share buyback program.
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