Cisco Systems Reports Q2 Earnings Beat

Cisco Systems Reports Q2 Earnings Beat

Photo credit: Prayitno

Cisco Systems CSCO reported adjusted second-quarter earnings of 77 cents per share on Wednesday, which beat the analyst consensus estimate of 76 cents. This is a 5.48% increase over earnings of 73 cents per share from the same period last year.

The company reported quarterly sales of $12 billion, which beat the analyst consensus estimate of $11.98 billion. This is a 3.58% decrease over sales of $12.446 billion the same period last year.

Cisco Systems sees third-quarter adjusted EPS at 79-81 cents versus the 80-cent estimate.

"I am incredibly proud of the innovation our teams continue to drive," CEO Chuck Robbins said in a statement. "I am confident in our long-term growth opportunities as we help our customers build out the networks for the future."

Cisco's closed Wednesday's session higher by 1.6% at $49.93 per share. The stock has a 52-week range between $58.26 and $43.40.

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