Cisco quarterly revenue beats estimates

Cisco quarterly revenue beats estimates

Cisco Systems Inc reported second-quarter revenue that beat Wall Street estimates on Wednesday, as the network gear maker benefited from its shift to newer businesses such as application software and cyber security.

FILE PHOTO - The logo of US networks giant Cisco Systems is seen at their headquarters in Issy-les-
FILE PHOTO: The logo of U.S. networks giant Cisco Systems is seen at their headquarters in Issy-les-Moulineaux, near Paris, France, April 3, 2018. REUTERS/Philippe Wojazer/File Photo

REUTERS: Cisco Systems Inc reported second-quarter revenue that beat Wall Street estimates on Wednesday, as the network gear maker benefited from its shift to newer businesses such as application software and cyber security.

The company reported net income of US$2.8 billion, or 63 cents per share, in its quarter ended Jan. 26, compared with a loss of US$8.78 billion, or US$1.78 per share, a year earlier, when it took a charge of US$11.1 billion related to the new U.S. tax laws.

Total revenue rose 4.7 percent to US$12.45 billion. Analysts on average had expected revenue of US$12.41 billion, according to IBES data from Refinitiv.

(This story corrects revenue figure to US$12.45 billion and estimates to US$12.41 billion in paragraph 3)

(Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D'Silva)

Source: Reuters

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