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Shares of Cisco Systems Inc. advanced on Wednesday during the broad session after the profits of the network giant exceeded the estimates of Wall Street, even though the service turnover was below the consensus view for a third consecutive quarter.
whitefish
CSCO, -1.75%
shares rose 3.1% in recent trading after hours, after a 1.8% decline to close the regular session at $ 44.33, while the Dow Jones Industrial Average
DJIA, -0.81%
which counts Cisco as a component and the S & P 500 index
SPX, -0.76%
both ended down 0.8% on Wednesday and the Nasdaq composite index, very technology-driven
COMP -0.90%
decreased by 0.9%.
San Jose, California, reported first-quarter net income of $ 3.55 billion, or 77 cents a share, compared with $ 2.39 billion, or 48 cents a share, in the same quarter of the same year. 39, previous year. The adjusted profit was 75 cents per share. According to FactSet, analysts on average expected an adjusted profit of 72 cents per share, and analysts expected a forecast profit of between 70 and 72 cents per share.
Revenues reached $ 13.07 billion, compared to $ 12.14 billion in the same quarter of the previous year. Wall Street had a turnover of 12.86 billion dollars, while Cisco predicted between 12.74 and 12.99 billion dollars.
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By segment, Cisco exceeded estimates in most categories, except services, and reported third-quarter revenue lower than Street View. Services revenue reached $ 3.18 billion, while analysts surveyed by FactSet were seeking $ 3.21 billion.
The Cisco business figure reached $ 9.89 billion, while analysts expected $ 9.63 billion. Infrastructure platform revenue was $ 7.62 billion while analysts were looking for $ 7.4 billion, application revenue was $ 1.42 billion, compared to $ 1.35 billion dollars in Street View. "Raised $ 178 million versus $ 240.1 million in Street View.
For the second quarter, Cisco's projected adjusted earnings were 71 to 73 cents per share and 5.4% to 12% versus 12% to 12% revenue growth, an increase of $ 12.48 billion a year. $ 12.54 billion, according to FactSet. Cisco said its outlook includes the divestment of its service provider video software solution unit, which may not have been factored into some analysts' estimates.
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