CSCO #'s
Monday November 6, 4:29 pm Eastern Time
Cisco posts first quarter profit just above consensus
SAN JOSE, Calif. Nov 6 (Reuters) - Cisco Systems Inc. (NasdaqNM:CSCO - news), the world's biggest maker of computer networking equipment, on Monday posted first quarter earnings that came in just above Wall Street expectations and cited sales to Internet service providers, cable and telephone companies.
The San Jose-based company reported pro forma net income of $1.36 billion, or 18 cents a share, for its fiscal first quarter ending Oct. 28. vs. $814 million, or 11 cents per share, in the year ago quarter. The pro forma results excluded the effects of acquisition charges and other items.
Analysts had expected Cisco to report earnings of 17 cents a share, according to First Call/Thomson. Cisco has repeatedly posted earnings 1 cent above expectations in recent quarters.
Sales rose 66 percent to $6.52 billion from $3.92 billion. |
