re: CSCO Q3 Earnings
I have not drilled down, but at first glance, this looks positive.
>> Cisco Systems Tops Earnings Target
Chris Kraeute
CBS.MarketWatch.com
4:40 PM ET
May 7, 2002
Cisco Systems grew its revenue, as expected, for its third quarter while its earnings excluding charges increased more than analysts had targeted.
Shares (CSCO) jumped up 6 percent on Island ECN Tuesday to $13.84 immediately after the announcement. Shares ended the regular session up 1.5 percent to $13.08.
The networking equipment maker posted net income of $729 million, or 10 cents a share, on revenue of $4.82 billion. During the same quarter last year, the net loss was $2.7 billion, or 37 cents a share, on revenue of $4.72 billion.
Excluding charges and other one-time items, Cisco had a profit of $838 million, or 11 cents a share, compared with earnings of $230 million, or 3 cents a share, during the same quarter last year.
Analysts had expected earnings excluding charges of 9 cents a share on revenue of $4.87 billion, on average, according to Thomson Financial/First Call.
According to a statement, Chief Executive John Chambers said the company exceeded its own targets for gross margins, cash flow and inventory turns. <<
- Eric - |
