Geez, what a bad quarter. Earnings only up 48%; revenue 55%. I guess we'll have to have a tag day.
Cisco Q2 earnings up 48 pct, miss expectations
CHICAGO, Feb 6 (Reuters) - Computer networking giant Cisco Systems Inc. (NasdaqNM:CSCO - news) on Tuesday said its fiscal 2001 second-quarter earnings rose 48 percent but missed Wall Street expectations.
The San Jose, Calif.-based company said its profit before one-time items rose to $1.33 billion, or 18 cents a share, for its fiscal second quarter ended Jan 27, from $897 million, or 12 cents a share, in the year-ago quarter. Analysts had on average expected Cisco to report pro forma earnings of 19 cents a share, according to First Call/Thomson Financial.
Sales, which had been widely watched for a slowdown, rose 55 percent to $6.75 billion from $4.36 billion in 2000, falling short of Wall Street's expectations for $7 billion to $7.2 billion. |
