story.news.yahoo.com
Cisco's profit up more than threefold
Tue May 7, 5:12 PM ET
Dawn Kawamoto CNET News.com
Cisco Systems reported better-than-expected third-quarter earnings performance Tuesday, in part due to cost cutting and improved margins.
The company reported a net profit of $729 million, or 10 cents a share, in the quarter, compared with a net loss of $2.7 billion, or 37 cents a share, in the same quarter a year ago.
Excluding special charges, Cisco's pro forma profit was $838 million, or 11 cents a share. That was better than Wall Street analysts' expectations of a third-quarter profit of 9 cents a share. Last year, the networking company reported pro forma profits of $230 million, or 3 cents a share.
The networking giant generated revenue of $4.8 billion in the third quarter, up 2 percent from $4.73 billion last year. Analysts had forecast revenue of $4.87 billion, according to First Call. .... |
